Canada Selects Thyssenkrupp Marine Systems as Lead Contractor for CAD 60B Submarine Program on July 6

According to Canadian Prime Minister Mark Carney on July 6, Germany's Thyssenkrupp Marine Systems (TKMS) has been selected as the lead negotiator for Canada's submarine program, valued at up to CAD 60 billion. Carney announced the decision at a naval base in Halifax, Nova Scotia, stating the initiative extends beyond procurement to build domestic industrial capacity.

South Korea's Hanwha Ocean, which competed for the contract with its KSS-III platform, will remain as a backup supplier if negotiations with TKMS fail. Canada aims to finalize the contract by next year.