Canadian daily The Globe and Mail reported Sunday, citing two government sources, that Carney is expected to formally announce whether South Korea or Germany has emerged as the preferred bidder for the Canadian Patrol Submarine Project (CPSP).
According to the Prime Minister's Office, Carney will unveil "new measures to make Canada more secure, resilient and prosperous" during an announcement scheduled for 5:10 p.m. on Monday local time in Halifax, the Atlantic port city that hosts one of Canada's largest naval bases.
The announcement is expected to identify a preferred bidder rather than finalize a contract. Negotiations on pricing, industrial participation and other detailed terms could continue for several years, The Globe and Mail reported.
The CPSP aims to replace Canada's aging Victoria-class submarines with a fleet of up to 12 diesel-electric submarines. The program is estimated to be worth as much as C$40 billion, including construction as well as 30 years of maintenance, repair and operational support.
South Korea's Hanwha Ocean and Germany's Thyssenkrupp Marine Systems have been shortlisted for the project.
According to The Globe and Mail, selecting Hanwha Ocean would mark the first time Canada has procured a major weapons platform from a non-Western supplier, representing a significant shift in Ottawa's defense procurement policy.
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