KSS-III

Canada has selected Germany's TKMS to build 12 new submarines under the country's largest defense procurement, beating Hanwha Ocean's bid. The project, expected to cost up to $70 billion including long-term costs, will replace Canada's aging Victoria-class submarines with TKMS's Type 212CD model, with the first submarine arriving in 2033.

Canada expects to select a preferred bidder for a submarine procurement program within 30 days, with Germany’s TKMS and South Korea’s Hanwha Ocean competing for the contract. The decision is part of Canada’s plan to replace its aging submarine fleet and enhance Arctic and oceanic patrol capabilities.