Australia signs $50bn submarine contract with France, ends 2-year squabble | WHAT REALLY HAPPENED


Australia signs $50bn submarine contract with France, ends 2-year squabble

Australia signed a production contract with French shipbuilder Naval Group on Monday for a fleet of 12 new submarines, worth AU$50 billion (US$35.5 billion). The move ends a two-year wrangle that cast doubt over one of the world’s most lucrative defense deals. Australia selected the French builder as its preferred bidder for the fleet of submarines in 2016 ahead of other offers from Japan and Germany. Final contracts, however, were delayed amid domestic media reports of cost blowouts and production delays.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA