Australia signs multi-billion dollar submarine deal with French firm

French beat Germans to Australian submarine jackpot

The statement said the submarines, which will be designed and built in Australia for the Navy, will generate an average of 2,800 jobs, reports Efe news.

The agreement was signed in the presence of PM Scott Morrison, Minister for Defence Christopher Pyne, and Florence Parly, French Minister for the Armed Forces. Naval Group and Australia have signed a strategic partnering agreement in order to end the impasse.

Naval Group chairman Herve Guillou said the agreement with Australia will see Naval Group transfer the "know-how" and "know-why" to Australia to become an sovereign submarine nation.

A Strategic Partnering Agreement (SPA) setting out the principles of co-operation between Australia and French shipbuilder Naval Group for the former's AUD50 billion (USD35 billion) future Attack-class submarine programme was signed on 11 February.

The submarine construction yard development at Osborne, South Australia, will apparently continue as a part of the other activities that are required to deliver the program, claim sources familiar with the matter.

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The Feasibility Study phase of the Future Submarine design contract being undertaken in France with the support of Australian engineers has been completed.

Negotiations on the SPA began in early 2017 and were meant to have been completed during that year, but was delayed by issues including the length of warranty periods and the implications of a possible merger between Naval Group and Italy's Fincantieri.

Suppliers of the top five pieces of equipment including the main motor, diesel generators, switchboards, batteries and weapons discharge systems have been reviewed and will be announced in 2019.

Our Government is committed to maximising local industry involvement in the program to ensure Australians get the most out of this important national investment.

Australia and France will now move on to swiftly conclude the design contract.

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