"Defence Secretary Gavin Williamson today announced the Ministry of Defence is investing a massive £2.5 billion in boosting Britain’s submarine building projects," the statement read.
The statement noted that 1.5 billion pounds would be invested in building the seventh Astute-class nuclear-powered hunter-killer submarine, which Williamson named Agincourt, and another 960 million pounds would be put into the second phase of construction for the four Dreadnought-class nuclear-armed submarines.
The funding will create around 8,000 jobs in UK defense firm BAE Systems, which will be in charge of the submarines building projects.
"This multi-billion-pound investment in our nuclear submarines shows our unwavering commitment to keeping the UK safe and secure from intensifying threats. Agincourt will complete the Royal Navy’s seven-strong fleet of hunter-killer attack subs, the most powerful to ever enter British service, whilst our nuclear deterrent is the ultimate defense against the most extreme dangers we could possibly face," Williamson said in the statement.
READ MORE: Britain Sends Nuclear Sub Under Arctic Ice As Tensions With Russia Heat Up
Since becoming the defense secretary in November, Williamson has been calling for strengthening the UK submarine fleet, citing the alleged surge in the Russian submarine activity near UK shores. Moscow, in turn, has repeatedly denied accusations of posing a threat to Western countries, calling them unfounded.
