Submarine builder ASC has today confirmed that Australias Future Submarines can be built in Adelaide at a competitive price for taxpayers.

The Interim CEO of ASC, Stuart Wiley, also gave evidence that he had no idea how anyone could come up with an estimated local build cost for submarines of $80 billion a figure being used by the Government to undermine the case for building these submarines in Adelaide.

Mr Wiley told Senate Estimates that it would cost between $18 billion and $24 billion to build our new submarine fleet locally.

Stuart Wiley, Interim CEO, ASC: Weve used Collins data to consider a potential cost range, if asked, for a potential submarine.

Senator Penny Wong: Are you able to provide us with any information about those ranges?

Mr Wiley: It would range from our figures of between $18 to $24 million (sic) depending on what you want and what capability.

Senator Wong: Billion, I assume.

Mr Wiley: Billion, yes.

This is yet another example of why the Abbott Government should keep its promise to build Australias new submarine fleet in Adelaide.

ASC has now joined other submarine builders, including Thyssen Krupp Marine Systems and Saab in outlining that these submarines can be built in Adelaide at a competitive price for taxpayers.

Submarine experts have also confirmed to the Senate that maintaining our capability to build submarines in Australia is of immense strategic, military and economic benefit to our country.

There are no more excuses, its time the Government listened to the experts and kept its promise on submarines.