Want China Times
By: CNA and Staff Reporter
Taiwan’s Ministry of National Defense on Monday submitted a budget proposal of NT$2.9
billion (US$89 million) to the Legislative Yuan for an indigenous submarine project.
The Navy is planning to launch the first phase of the project next year, starting with a design contract, and has proposed a budget of NT$500 million (US$15.4 million) for the first year of the project.
The full submarine project, spread over four years, is estimated to cost NT$2.9 billion, the proposal stated.
According to the ministry’s proposal, NT$820 million (US$25.2 million), spread over three years from 2016 to 2018, has been estimated for the Navy’s construction of assault ships and rigid hull inflatable boats, with NT$70 million (US$2.15 million) to be spent in the first year. [FULL STORY]