The new shipyard will become ASC's construction and consolidation site for the $8-billion Hobart class Air Warfare Destroyer (AWD) Program.
"This marks a defining moment in the history of ASC as we continue to forge a path at the frontline of Australia's naval shipbuilding industry," Chairman Vice Admiral Chris Ritchie AO RANR said.
"This state-of-the-art facility means we are now in a position to confidently ramp up the build phase of the AWDs, which is one of the most complex engineering projects ever undertaken in this country."
ASC's shipyard includes dedicated AWD production facilities, new office accommodation for 400 employees, a wharf support building with office space and workshops, and a significant upgrade to existing facilities.