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Canada is Purchasing Twelve Type 212CD Submarines from TKMS

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The contract value is estimated at tens of billions

Neither Canada nor TKMS provided details on the exact order volume. However, according to information from dpa, the submarines alone—including service—are expected to be worth around 20 billion euros. Carney called it the largest procurement project in Canadian history. The submarines, it is further reported, will then be built entirely in Kiel and Wismar and launched there. The company’s order books were already well-filled even before this record-breaking order from overseas. The shipyard is benefiting from the sustained high demand for defense equipment. In the first half of the fiscal year—from October 2025 to March 2026—the order backlog reached 20.6 billion euros. That was already a new record. Even with that alone, TKMS was fully booked through the 2040s.

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