The Canadian government has chosen Germany's ThyssenKrupp Marine Systems (TKMS) as the preferred bidder for its next-generation submarine construction project, according to multiple government sources cited by the Globe and Mail on July 6.
Prime Minister Mark Carney is set to officially announce the selection of the preferred bidder for the Canadian Submarine Project (CPSP) at 5:10 p.m. local time in Halifax, Nova Scotia.
This project aims to replace the Royal Canadian Navy's four 2,400-ton Victoria-class submarines with up to 12 new diesel submarines, each weighing up to 3,000 tons, by the mid-2030s. The total project cost, including construction, operation, maintenance, and performance upgrades, is estimated to reach up to CAD 60 billion.
The Canadian government evaluated both Hanwha Ocean's KSS-III model and TKMS's 212CD model as meeting the navy's performance requirements. The final selection reportedly considered factors such as investment in the Canadian economy and industrial impact.
Hanwha Ocean proposed over USD 70 billion in investments and trade expansion, along with the creation of more than 25,000 jobs annually until 2044. In contrast, TKMS, in partnership with Norway, projected a contribution of USD 86 billion to Canada's GDP and the creation of over 650,000 jobs during the project period.
Hanwha Ocean and HD Hyundai Heavy Industries were shortlisted as finalists, competing against TKMS for the contract.
* This article has been translated by AI.
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