
Canada chooses German company to build new submarine fleet
In keeping with Mark Carney's promise to end '70 Cents Of Every Dollar To US' defence spending model, no U.S. option was considered.
Germany’s TKMS will be awarded the lucrative contract to build 12 new submarines for Canada, beating out a bid from South Korean shipbuilder Hanwha Ocean. The Globe and Mail report says Prime Minister Mark Carney will announce the decision in Halifax on Monday before heading to a NATO leaders’ summit in Turkiye.
Along with procuring the submarines, Canada’s project involves paying for 30 to 50 years of maintenance. The contract, over its entire lifespan, has an estimated value of more than $100 billion.