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President Trump on Tuesday announced a multibillion-dollar investment to build a new shipyard in Baltimore to manufacture critical components for the Navy's Virginia-class nuclear-powered attack submarines. "Today, we're officially launching the construction of the largest new shipyard in the United States," he said at Sparrows Point Shipyard in Baltimore. "Since World War II, there's been nothing like we're doing today." Anduril Industries, a defense technology company that makes AI-backed weapons, will invest $3.7 billion in the new shipyard, while the U.S. Navy has awarded the company a contract worth up to $2.9 billion to manufacture submarine components. The shipyard is expected to create more than 3,000 new permanent jobs and support an additional 11,000 jobs across the nation. The manufacturing facility will be located at the site of the former Bethlehem Steel plant, which closed permanently in 2012 after 125 years of steelmaking at the site. "When I came into office for my second term less than two years ago, this national treasure was abandoned and it was totally forgotten. But it's not forgotten any longer," President Trump said. The president also said the U.S. government will take a 40% stake in the new shipyard, demonstrating a commitment to the facility and Sparrows Point. "The storied grounds of Sparrows Point will never fall silent again," he said. #cspan #trump #maryland #shipment #news

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