Australia signs $50 billion submarine contract with France

12 February, 2019, 22:18 | Author: Wade Massey
  • Australia'bets on France for'audacious €30 billion submarine deal

The Australian government on Monday announced the signing of a AUSD 50 billion (USD 35 billion) agreement with the French Naval Group for the construction of its new fleet of 12 Attack class submarines.

"We are grateful to the teams from the Commonwealth of Australia and Naval Group who have worked hard to achieve this agreement", said Guillou.

According to the Australian Defence Ministry, the first submarine that will be named HMAS Attack is expected to be delivered in the early 2030s.

The statement said the submarines, which will be designed and built in Australia for the Navy, will generate an average of 2,800 jobs, reports Efe news.

Australia and France concluded an intergovernmental agreement (IGA) for the construction of 12 Attack-class boats in December 2016.

Since being selected as Australias partner for the Attack class Submarine Program in April 2016, a lot has been achieved.

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First sod has also been turned at the Future Submarine construction yard in Adelaide.

Negotiations on the SPA began in early 2017 and were meant to have been completed during that year, but was delayed by issues including the length of warranty periods and the implications of a possible merger between Naval Group and Italy's Fincantieri. A detailed design contract, however, can only be concluded after the signing of the SPA.

• Continued to work with education facilities, TAFEs and universities, having forged a collaborative engineering and research Memorandum of Understanding with the University of New South Wales.

Regarding the industry milestones, Naval Group is to continue to maximise the opportunities for Australian Industry involvement in the program, through all phases, without compromising the Commonwealths requirements against capability, cost and schedule.

Australia and France will now move on to swiftly conclude the design contract.

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