According to information published by La Nacion on November 27, 2024, President Javier Milei and his French counterpart Emmanuel Macron have finalized an agreement for the acquisition of three Scorpène-class submarines and four offshore patrol vessels (OPVs) in a deal exceeding $2 billion.
The centerpiece of the agreement is the acquisition of three Scorpène-class submarines from France’s Naval Group. Valued at approximately $2 billion, the deal aims to restore Argentina’s submarine capabilities, which have been severely diminished since the tragic loss of the ARA San Juan in 2017. Defense Minister Luis Petri emphasized that this agreement represents the initial stages of a long negotiation process, with contract finalization expected no earlier than mid-2025. Delivery timelines for the submarines are projected at five years post-contract, with payments commencing upon delivery.
The defense agreements align with President Milei’s campaign promises to prioritize the modernization and revitalization of Argentina’s armed forces after years of under investment.