Canada Picks German ThyssenKrupp for $20-30 Billion Submarine Fleet

Prime Minister Mark Carney announced July 6 that ThyssenKrupp Marine Systems won Canada's submarine competition over South Korea's Hanwha Ocean. The 10-month procurement, formally called the Canadian Patrol Submarine Project, will deliver up to 12 diesel-electric submarines. TKMS bid with Norway, both NATO members, while Hanwha competed alone. South Korea is not NATO-aligned. The contract cost runs $20-30 billion for vessels; operations and maintenance add $40-50 billion. Carney called it Canada's largest procurement.