Overview

• Under the deal, Austal will build 18 Landing Craft Medium and two Evolved Cape class patrol boats, with eight Landing Craft Heavy awaiting formal approvals
• The initial vessel projects are expected to generate about 1,100 direct positions and over 2,000 indirect roles, contributing to more than 3,100 jobs in Western Australia
• The pact underpins tens of billions of dollars in Defence investment at the Henderson precinct, supporting roughly 10,000 high-skilled jobs over the next 20 years
• The government will hold a sovereign share in Austal Defence Australia and has a call option to block any third party from acquiring more than 20% ownership
• Hanwha Group, which holds a 9.9% stake in Austal, said the deal permits foreign investors to acquire up to 20% equity, clearing regulatory uncertainty over its plan to raise its share to 19.9%