The UK has confirmed plans to invest £100m for new dock facilities at Portsmouth Naval Base, in a bid to ensure it is ready to serve the future Queen Elizabeth-class aircraft carriers.
In addition to developing the port infrastructure, the investment will involve berthing and jetty improvements and new power supply and distribution capabilities.
The investment will also go towards vital dredging in the approach to the harbour.
UK Chancellor of the Exchequer George Osborne said: "Ensuring a better and more secure future for Britain means equipping our Royal Navy for the challenges of the 21st century.
"It is only because we have a long-term economic plan that we [are] able to invest in our national security.
"Our ambition is to deliver the most modern navy in the world, which the government believes is a national necessity. It will maintain and create jobs and deliver a more secure future for Britain."
The announcement follows uncertainty after Bae confirmed plans to pull its shipbuilding unit from Portsmouth in November 2013.
UK Royal Navy First Sea Lord Admiral Sir George Zambellas KCB DSC ADC said: "The commitment to a new national shipbuilding strategy is not just a very significant investment in the UK’s shipbuilding future.
"It is also a powerful statement that our nation’s global interests will be protected by a credible, world-class navy, equipped with fast-jet aircraft carriers, submarines, destroyers and frigates, which will be the best and most modern in the world."
Image: The £100m infrastructure development at Portsmouth Naval Base will support the navy’s future requirements. Photo: courtesy of BAE Systems / UK MoD.