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.
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