The statement said the submarines, which will be designed and built in Australia for the Navy, will generate an average of 2,800 jobs, reports Efe news.
Australia has signed a production contract of 50 billion dollars (AUD ) worth defence deal with the French shipbuilder Naval Group on Monday in order to produce 12 new attack-class submarines for the Australian naval forces while ending a two-year wrangle that has cast doubts on one of the world's most profitable defence deals.
For the record, it has been reported that these submarines stand as a major pillar of the Australian government's National Shipbuilding Plan $90 billion, under which around 54 naval vessels will be constructed in Australia.
In 2016, the Australian government chose to partner with France's Naval Group over bids from Japan and Germany.
The formal signing of the Agreement is a defining moment for the country.
However, a joint statement from Prime Minister Scott Morrison and Defence Minister Christopher Pyne said work would continue on the first attack class submarine, to be named HMAS Attack, to deliver it within budget in the early 2030s.
Nicki Minaj pulls out BET concert after network’s tweet
The post does not reflect how we feel about Nicki . "And further does not reflect our company values", read the statement . Adding, "Unfortunately the respect we have for Nicki was violated by this post that should never have been written".
"We are very excited about the opportunities that lay ahead of us and are committed to delivering the Future Submarine Program for Australia".
Since being selected as Australia's partner for the Attack class Submarine Program in April 2016, a lot has been achieved.
"The formalisation of this agreement represents the contractual basis for the program".
Pre-sizing of the Future Submarine has been completed. Phase 1 of the onsite works will focus on site establishment, earth works and piling for the new facilities with the development to create at least 600 jobs. The transfer of technology commenced with the relocation of the first group of Australian engineers to France to learn how to carry out the detailed design of the Future Submarines.
Australia and France will now move on to swiftly conclude the design contract.