France To Bill Australia For Canceled Submarines Deal

Agence France-Presse reports:

France’s Naval Group said Wednesday it will send a “detailed and calculated proposal” to Australia in the coming weeks of the costs it expects Canberra to pay for scrapping a massive contract to purchase French submarines.

Australia in 2016 agreed to buy 12 diesel-powered submarines built by Naval Group in a deal dubbed the “contract of the century” worth US$36.5 billion and later revalued at US$60 billion.

However last week Australia ditched the deal in favour of nuclear-powered submarines from the United States and Britain, in a secretly negotiated agreement that infuriated Paris and sparked a diplomatic row.

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