Ottawa to procure submarine fleet from Germany’s TKMS

The initial acquisition of the submarines is estimated to be around $24 billion, with a 30-50 year maintenance fee bringing the total to around $100 billion.

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The Carney government has chosen Germany’s TKMS to build new submarines for the Canadian Armed Forces, which will see Ottawa procure a fleet of 12 new boats with a contract that includes payment for 30 to 50 years of maintenance.

ThyssenKrupp Marine Systems made the bid along with Norway, beating out South Korea’s Hanwha Ocean for a contract that has an estimated value of over $100 billion, including the maintenance.