Conversions ???
Not converting nothing !
Building new, from scratch, utilising the Asia-Pacific Construction facilities of the likes of Hyundai or DSME in Korea & with possibly specific "sensitive items" being installed in the UK.
More info in link below...
http://www.bmtdsl.co.uk/BMT/bmt_media/bmt_media/33/FinalsupportAuxiliariesbrochureover4pages.pdf
At present, I think that with the build program for T-45, Astute, CVF, the VT orders for Oman & Trinidad & Tobago, that the UK's ability to build anything for anyone would be a bit difficult, but not impossible.
Who's to say that the UK Govt wouldn't like one of their build programs slowed down, to spread costs, or even speed-ed up, to allow construction facilities to be freed up??
As I said early, speculation
("HYPE"), should be taken with a pinch of salt, not taken as gospel.
The UK still has many strings to her bow, when it comes the design & construction facilities it has, with many foreign nations still interested in having things such as ships designed & built here.
Just because the Govt purse strings are firmly tied, doesn't mean that all is lost.
Wait for THEIR comments, released from whichever dept they choose, whether it be the DTI, straight from Whitehall, Parliament or even No.10 Downing street.
:lul SA