Decision set to strengthen our position as a major defence sector base in Australia.
Our region's economy is in store for a long-term boost thanks to Hanwha Defense Australia being named as the preferred tenderer to deliver military vehicles to the Australian Army.
The 129 infantry fighting vehicles will be built at Hanwha's $170 million manufacturing facility at Avalon which is under construction.
Valued at between $5–$7 billion, the LAND 400 Phase 3 project will have a significant ripple effect on our economy through the creation of thousands of jobs and supply chain and associated opportunities.
Hanwha is also locked in to build other military equipment as part of the LAND 8116 project. The company's presence at Avalon is estimated to inject $200 million in flow-on investment and export opportunities into Victoria's supply chain.
Council and the Geelong community are actively forging strong ties with Hanwha and South Korea.
Just last year, Council and Changwon City, where Hanwha Corporation is based, formally agreed to collaborate on trade, education and cultural exchanges and to promote investment and employment.
As a UNESCO City of Design with a strong history of manufacturing and Clever and Creative goals, this new contract is a unique opportunity to attract further investment and cement our region as an innovative international manufacturing hub.
