Australia to funnel $3bn to U.K. for AUKUS sub reactors, designs

SYDNEY -- Australia will send $4.6 billion Australian dollars ($3 billion) to the U.K. to facilitate the building of nuclear-powered AUKUS submarines as part of the tripartite effort with the U.S. to counter China's rise in the region.

The funds, to be delivered over the next decade, will go to expanding the Rolls Royce production line in the English city of Derby that will build the required nuclear reactors and also cover design costs for the underwater vessels, known as the SSN-AUKUS submarines.