France Wins $39-Bil­lion Aus­tralian Sub Con­tract

The Economic Times - - Around The World -

Aus­tralia snubbed a bid from Ja­pan to award one of the world’s big­gest de­fence deals to France’s DCNS Group, opt­ing for a con­tract that will gen­er­ate jobs in Aus­tralia and min­imise a back­lash from its ma­jor trad­ing part­ner, China. The French of­fer for the $39-bil­lion con­tract to build 12 sub­marines trumped those by Ja­pan and Ger­many. DCNS will build the fleet in Ade­laide and the project should cre­ate about 2,800 jobs, a point Prime Min­is­ter Mal­colm Turn­bull made in an­nounc­ing the win­ner Tues­day ahead of an elec­tion ex­pected in July. Bloomberg

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