Australia and France on Monday signed a strategic partnership agreement for joint construction of Australian navy鈥檚 new fleet of submarines, according to The Sydney Morning Herald.
The production of the 12 Attack-class submarines by French shipbuilder Naval Group will cost Australia A$50 billion ($35.5 billion). The bids were announced in 2016.
Construction on the 鈥渞egionally superior鈥� submarines has already started, the media report said.
The first Attack-class submarine will be named HMAS Attack and it will be delivered in early 2030s, the newspaper quoted a joint statement by Australian Prime Minister Scott Morrison and Defence Minister Christopher Pyne.
鈥淭he signing of the agreement is a defining moment for the country,鈥� the statement said.
鈥淭he submarines will help protect Australia's security and prosperity for decades to come and also deepen the defence relationship between Australia and France,鈥� it said.
Australia rejected offers from Japan's Mitsubishi Heavy Industries and Kawasaki Heavy Industries, as well as Germany's ThyssenKrupp AG, and accepted the French bid.
By Riyaz ul Khaliq
Anadolu Agency
energy@aa.com.tr