Australia, France Seal A$50 Billion Submarines Deal

  • Our Bureau
  • 08:41 AM, December 20, 2016
  • 3447
Australia, France Seal A$50 Billion Submarines Deal
Australia, France Seal A$50 Billion Submarines Deal

Australia today sealed a 50 billion Australian dollars ($37 billion) submarines deal with France, termed the “largest defense procurement program in Australia’s history”.

The inter- governmental agreement (IGA) signed by Australian Prime Minister Malcolm Turnbull and French Defence Minister Jean-Yves Le Drian, is for 12 sophisticated submarines to be built by French defence major DCNS. The Australian headquarters of DCNS that will design and build the Shortfin Barracuda was official opened in Adelaide today.

"The IGA is the last foundation stone needed to ensure Australia is able to develop a cutting-edge sovereign submarine capability," Turnbull told media.

The pact is a "critically important step in the development of our security, in the assurance of our government in delivering Australians the security and the prosperity that they need," he said.

Le Drian, describing the signing as an "historic event", said the agreement was "an important building block in deepening our bilateral relationship, notably... between our two navies".

The new contract between Australia and France lays out the legal framework under which Australia and France will partner on the future submarine programme over the coming decades.

Australia awarded DCNS the main contract in April to design and build its next generation of submarines, conventionally powered version of France’s 4,700-ton nuclear-fueled Barracuda but boast the same stealth capabilities.

The Barracudas are to replace Australia’s aging diesel and electric-powered Collins submarines.

Also Read

Australia, France To Sign US$37 Billion Submarine Deal On Tuesday

December 19, 2016 @ 01:37 PM

Sea Trials of Australia’s First Air Warfare Destroyer From Next Year

December 16, 2016 @ 09:17 AM

Indian Sub Info Leak Came from Australian Senator’s Office: Sydney Newspaper

December 13, 2016 @ 03:06 PM

Australia Expects To Create 400 Direct Jobs From Offshore Patrol Vessel Project

December 1, 2016 @ 11:17 AM

Australian Cyber Security Delegation Visits Indian IT Firms

November 23, 2016 @ 11:56 AM

Naval Group Wins $605 Million for First Phase of Australian Future Submarine

March 5, 2019 @ 11:00 AM

France Orders A Fourth Batiment Multi-mission Vessel From Kership

January 20, 2017 @ 03:11 PM

US Navy's Columbia-Class Submarine Enter Engineering Development Phase

January 10, 2017 @ 01:56 PM

Australian Farmers Oppose Singapore Army's Training Site In Queensland

December 29, 2016 @ 10:10 AM

Defence Sales Bonanza For France With US$55 Billion Deals In 2016

December 20, 2016 @ 12:01 PM