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France wins "historic" Australia submarine contract

Xinhua, April 26, 2016 Adjust font size:

France on Tuesday beat off competition from Germany and Japan to win a 40-billion-U.S. dollar contract to build a fleet of 12 new submarines for Australia.

The victory of state-owned naval contractor DCNS marks a decisive step in the strategic partnership between the two countries, the Elysee said in a statement, calling the deal as "historic."

This contract will create jobs and development in France and Australia, the statement said.

French Defense Minister Jean-Yves Le Drian will soon fly to Australia to launch the program, it added.

The 12 submarines will be built in Australia and will replace the country's current fleet of ageing diesel- and electric-powered Collins-class submarines. Endi