The UK defense secretary is set to announce a £2.5bn investment for new Royal Navy submarines during his visit to BAE Systems’ shipyard in Barrow-in-Furness in Cumbria on Monday.

According to the UK defense ministry, the investment includes £1.5bn for the construction of the seventh Astute-class submarine while £960m will go into the development and construction of four nuclear-armed Dreadnought-class submarines.

In addition to announcing the funding for the final Astute-class submarine, defense secretary Gavin Williamson is expected to announce that the submarine will be named ‘Agincourt’. The submarine is being named after the Battle of Agincourt of 1415 and will be the sixth Royal Navy ship to bear the name.

“This multibillion-pound investment in our nuclear submarines shows our unwavering commitment to keeping the UK safe and secure from intensifying threats,” defense secretary Williamson will say.

“Not only is this a massive boost for our armed forces, but it’s huge for Barrow, the heart of sub-building in this country. Today’s news supports 8,000 BAE Systems’ submarine jobs, as well as thousands more in the supply chain, protecting prosperity and providing opportunity right across the country.”

The nuclear-powered Astute-class submarines are being built by BAE Systems in Barrow-in-Furness, Cumbria. Funds for the sixth unit in the class were approved in April 2017.

HMS Astute, HMS Artful and HMS Ambush are already in-service with the Royal Navy. Boats 5 and 6, Anson and Agamemnon, along with the Agincourt are in different stages of construction at the Barrow site.