Key facts
- Canada has selected Germany's Thyssenkrupp Marine Systems (TKMS) to build 12 submarines.
- South Korea's Hanwha Ocean was the other major bidder for the contract.
- The decision was announced on Monday.
- The submarine acquisition is part of Canada's increased defense spending for NATO.
Canada has selected Germany's Thyssenkrupp Marine Systems (TKMS) to build a fleet of 12 submarines. The announcement, made on Monday, marks a significant defense procurement for the Canadian government.
South Korea's Hanwha Ocean was the other primary contender for the lucrative contract. The decision comes as Canada aims to bolster its defense capabilities and increase spending in alignment with NATO commitments.
Prime Minister Mark Carney was expected to make the official announcement regarding the submarine contract.