President Emmanuel Macron confirmed on Sunday plans to build a new, larger and more modern aircraft carrier to replace the ageing Charles de Gaulle carrier and boost France’s capacity as a maritime power.

Macron, who originally touted the plans in 2020, was speaking to troops based at a French military base in Abu Dhabi located near the Strait of Hormuz, a crucial chokepoint for global oil flows.

“The decision to launch this vast programme was taken this week,” Macron said, adding that the project would boost France’s industrial base, in particular small and medium-sized businesses.

Army Minister Catherine Vautrin said on X that the new vessel would enter service in 2038, around the time that the Charles de Gaulle is expected to be retired. That vessel entered service in 2001, some 15 years after it was commissioned.

Some French lawmakers from the centre and the moderate left have recently suggested that the project to build a new aircraft carrier be postponed due to France’s strained state finances.

France remains one of Europe’s leading military powers and is one of only five official nuclear-armed countries.