SYDNEY (PTI): Australia on Tuesday signed a 50 billion dollars deal with France for 12 sophisticated submarines to be built by French defence major DCNS that was at the centre of a controversy this year surrounding the leak of documents relating to India's Scorpene submarines.
Australian Prime Minister Malcolm Turnbull and French Defence Minister Jean-Yves Le Drian signed the inter- governmental agreement (IGA) in Adelaide, where they officially opened the Australian headquarters of DCNS that will design and build the Shortfin Barracuda.
"The IGA is the last foundation stone needed to ensure Australia is able to develop a cutting-edge sovereign submarine capability," Turnbull told reporters.
The pact is a "critically important step in the development of our security, in the assurance of our government in delivering Australians the security and the prosperity that they need," he said.
Turnbull said the deal underpins the largest capital project in Australia's history.
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