![]() Turnbull said the submarine contract would “secure Australia, secure our island nation, but ensure that our economy transitions to the economy of the 21st century”. The submarines will cost $20bn to build and $30bn to sustain after they come into operation in the middle of the next decade. Germany’s ThyssenKrupp Marine Systems (TKMS) and the government of Japan were the two unsuccessful bidders in the bid to build 12 submarines to replace Australia’s Collins-class submarines. The award of the $50bn contract to French shipbuilder DCNS means the fleet will be new Barracuda-class submarines which will be built to Australian specifications for a conventional, non-nuclear powered submarine.
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