Published • loading... • Updated
Canada to decide between German, South Korean submarine bids on Monday
The winner will be chosen on delivery speed, economic benefits and alliance ties, with one bidder promising more than 25,000 jobs annually.
- On Monday, Prime Minister Mark Carney is expected to announce the winner of Canada's contract to build 12 new submarines, choosing between Germany's ThyssenKrupp Marine Systems and South Korea's Hanwha Ocean.
- Canada's current fleet of four Victoria-class submarines are barely operational, prompting the military to seek 12 new vessels to ensure three can remain deployed at any time.
- The acquisition could cost up to $100 billion over three decades, while Hanwha pledged more than 25,000 jobs annually and TKMS forecasts an $86 billion gross domestic product impact.
- Carney is scheduled to announce the decision before departing for the NATO summit in Ankara, where the government aims to demonstrate commitment to spending 5% of gross domestic product on defense by 2035.
- German Defence Minister Boris Pistorius noted that combining German, Norwegian, and Canadian fleets could create a strategically important force of up to 24 submarines, strengthening NATO's Arctic and Atlantic capabilities.
Insights by Ground AI
Podcasts & Opinions
53 Articles
53 Articles
The advertising of Germany for a submarine partnership with Canada has been successful. The Federal Government speaks before the NATO summit of a strengthening of transatlantic security.
·Düsseldorf, Germany
Read Full Article
Carney to announce German-Norwegian pitch as winning bid to build Canada's next submarines: source
The federal government is looking to award the contract by 2028, and is now expected to begin negotiations with Germany’s ThyssenKrupp Marine Systems to determine the terms and conditions of the contract.
According to media reports, Canada is awarding a billion-dollar submarine contract to Germany. TKMS is said to have prevailed in the bidding process against the competition from South Korea.
This is the largest military supply contract in the country's history.
·Montreal, Canada
Read Full Article
Coverage Details
Total News Sources53
Leaning Left25Leaning Right6Center14Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 31%
13%
Factuality
To view factuality data please Upgrade to Premium
