First reported by The Independent
Canada to decide between German, South Korean submarine bids on Monday
Canada nears decision on $39.3B submarine program; South Korea's Hanwha and Germany's TKMS in contention
2h ago· 3 min readenNews
Summary
Canada is nearing a decision on its Canadian Patrol Submarine Project, a major program to replace its aging Victoria-class submarines with up to 12 new conventionally powered submarines. The program is estimated at up to 60 trillion won ($39.3 billion) including shipbuilding and long-term maintenance. South Korea's Hanwha Ocean and Germany's TKMS are key contenders, with the decision potentially opening the North American defense market to South Korea or strengthening German-Canadian defense ties.
Source
bskyCanada nears decision on $39.3B submarine program; South Korea's Hanwha and Germany's TKMS in contentionupi.comKey quotes
· 3 pulledThe Canadian Patrol Submarine Project is intended to replace Canada's aging fleet of four Victoria-class submarines with as many as 12 new conventionally powered submarines.
Industry estimates put the program at as much as 60 trillion won, or about $39.3 billion, when shipbuilding and long-term maintenance are included.
Canada is expected to select a preferred bidder soon.
Canada is nearing a decision on a major submarine program that could open the North American defense market to S. Korea's Hanwha Ocean or Germany.
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