Prime Minister Mark Carney is set to announce the selection for Canada's multibillion-dollar submarine replacement program on Monday afternoon during a visit to a Canadian Armed Forces base in Halifax.
The procurement project is one of the largest naval acquisitions in Canadian history. The Royal Canadian Navy plans to purchase 12 new submarines to replace its aging fleet.
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Contenders and Context
According to Global News, the leading contenders for the massive contract are German firm TKMS and South Korea's Hanwha Oceans.
Germany's TKMS has focused its pitch on NATO interoperability, while South Korea's Hanwha has proposed an accelerated delivery schedule to deliver four vessels by 2034.
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Canada needs to replace its four Victoria-class submarines, which face decommissioning by 2035 because only one vessel remains functional.
The official itinerary for the prime minister indicated that the announcement will highlight upcoming national strategic defense upgrades.
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Carney said the measures aim to "make Canada more secure, resilient, and prosperous."
