Germany’s TKMS Wins Contract to Build Canada’s Next Submarine Fleet
(MENAFN) Canada has selected German defense shipbuilder ThyssenKrupp Marine Systems (TKMS) to construct the country’s next generation of military submarines, Prime Minister Mark Carney announced on Monday.
TKMS was chosen over a South Korean competitor for the major defense contract, which is estimated to be valued between CAN$20 billion and CAN$30 billion ($14 billion to $21 billion). The overall cost could increase to around CAN$50 billion when long-term operations, maintenance, and modernization programs are included.
The agreement covers the construction of 12 submarines as Canada seeks to replace its aging fleet, which currently consists of four submarines.
Speaking in Halifax, Nova Scotia, Carney said the decision reflects the need for Canada to respond to a changing global security landscape.
“Canada must be able to defend itself,” he said. “The world is changing and Canada must change with it.”
The first submarine is expected to be delivered between 2032 and 2035, while the complete fleet is scheduled to be delivered by 2043.
TKMS was chosen over a South Korean competitor for the major defense contract, which is estimated to be valued between CAN$20 billion and CAN$30 billion ($14 billion to $21 billion). The overall cost could increase to around CAN$50 billion when long-term operations, maintenance, and modernization programs are included.
The agreement covers the construction of 12 submarines as Canada seeks to replace its aging fleet, which currently consists of four submarines.
Speaking in Halifax, Nova Scotia, Carney said the decision reflects the need for Canada to respond to a changing global security landscape.
“Canada must be able to defend itself,” he said. “The world is changing and Canada must change with it.”
The first submarine is expected to be delivered between 2032 and 2035, while the complete fleet is scheduled to be delivered by 2043.
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