LONDON, Aug. 31 (UPI) -- Britain is upgrading its submarine base in Scotland and has committed $769.4 million in funding for the 10-year project.
The project at HM Naval Base Clyde at Faslane will cover ship lifts, sea walls, jetties and other major renovations. It will also secure 6,700 jobs and lead to the creation of thousands more.
"Today's announcement of more than £500 million demonstrates the UK government's commitment to investing in the infrastructure and capability to ensure that Faslane remains the center of UK submarine operations for the next generation," Chancellor of the Exchequer David Osborne said Monday.
Osborne, the country's treasury secretary, said work is expected to begin in 2017.
Faslane is the largest military establishment in Scotland and from 2020 will be the Royal Navy's Submarine Center of Specialization – the headquarters for the Royal Navy's undersea capabilities. It is the home port of the country's Astute-class submarines.