OTTAWA: The tender process for constructing Canada’s new submarine fleet has reached a critical phase. Canada plans to acquire up to 12 new submarines, with South Korea’s Hanwha Ocean and Germany’s ThyssenKrupp Marine Systems (TKMS) emerging as the top contenders in the final race. The goal is to integrate these submarines into the Royal Canadian Navy by 2032, a move expedited as the current Victoria-class submarines are set to retire by the end of the next decade.
The federal government is expected to prioritize the bidder that offers the most significant benefits to Canada’s domestic manufacturing, economy, and industrial sectors. Both Hanwha Ocean and TKMS have already entered into preliminary agreements with various Canadian firms to bolster their bids.
An official announcement regarding the contract is anticipated later this year. These rapid developments are part of Canada’s new strategic defense initiative. While both companies have presented competitive proposals, the primary challenge for the government will be selecting a partner that best aligns with Canada’s long-term defense requirements and industrial growth.
