Chancellor John Healey announced that contracts worth £6bn for three floating dry docks will be awarded to a UK-based shipbuilder. These facilities are crucial for the maintenance of the Royal Navy's nuclear-powered submarine fleet at Faslane.
Speaking at the Labour conference, Mr Healey stated that the decision supports domestic shipbuilding and is part of a "new age of industrialisation". A UK-only bidding competition will determine which company builds the floating docks, with Navantia UK, which has sites in Fife and Belfast, considered a frontrunner.
Mr Healey also committed £115m for the construction of a new marine research vessel in the UK. This vessel will replace the Cefas Endeavour, which was built over 20 years ago by the Ferguson shipyard on the Clyde.
The investment in the dry docks is part of a broader £15bn upgrade of the Faslane site planned over the next decade. The new research vessel is expected to be delivered in the early 2030s.