The French submarine manufacturer Naval Group will submit to Australia a “detailed and quantified proposal” of “costs already incurred and to come” after the termination of the contract for the construction of 12 submarines, its CEO Pierre Eric Pommellet told Le Figaro publication.
The total value of the contract, of which only the first phases have been concluded, amounted to A$50 billion (€31 billion) at the time of signing, or A$90 billion taking into account inflation over the duration of the programme and cost overruns.
Australia; French Naval Group demands compensation for cancelled submarine contract