Australia to Pay $830M Over Scrapped French Submarine Deal

Australia to Pay $830M Over Scrapped French Submarine Deal
The logo of Naval Group is seen at the French naval base in the shipbuilding town of Cherbourg-en-Contentin, France, on Sep. 23, 2021. Stephane Mahe/Reuters
AAP
By AAP
Updated:

Australia will pay French company Naval Group about $830 million to settle a scrapped defence contract that would have seen it build submarines in South Australia.

Australia’s fleet of Collins submarines were going to be replaced by a conventional fleet constructed by Naval Group but that deal was abandoned by the Morrison government, which decided to instead pursue nuclear-powered submarines under the AUKUS partnership.