Canadian Prime Minister Mark Carney announced on July 7 that Germany’s ThyssenKrupp Marine Systems has been selected as the preferred bidder for Canada’s new submarine project, naming the South Korean consortium as reserve supplier.
Prime Minister Mark Carney made the announcement in Halifax before departing for the NATO summit in Turkey. He stated that negotiations with TKMS would now begin and described the process as commercially sensitive.
The project covers construction of up to 12 diesel-electric submarines valued at up to 60 trillion won, including long-term maintenance. Canada currently operates four Victoria-class submarines acquired second-hand from Britain.
The South Korean consortium was led by Hanwha Ocean and HD Hyundai Heavy Industries. Hanwha Ocean said it had been unable to overcome the NATO alliance barrier despite strong performance and government support.
Carney noted he had discussed the project by phone with South Korean President Lee Jae Myung over the weekend. He added that many other areas of cooperation with Korea remain.
