A signing of the Future Submarine Program Strategic Partnering Agreement (SPA) by the Commonwealth of Australia (CoA) and Naval Group will create quicker advances in the industry and more jobs.
The agreement, signed in the presence of Prime Minister Scott Morrison on February 11, sets out the principles of cooperation between the two partners for the Attack class Submarine Program.
It will see the delivery of 12 regionally superior submarines to Australia, and the delivery of new technologies and advanced manufacturing capabilities to Australia – introducing the next phase of Australian sovereignty as a submarine nation.
Thousands of direct and indirect Australian jobs will also be created and long-term planning certainty for industry will allow Australian companies involved in the submarine program to invest in the capabilities needed to support their involvement in construction and sustainment activities.
Naval Group chairman Herve Guillou said the agreement with Australia will see Naval Group transfer the "know-how" and "know-why" to Australia to become an sovereign submarine nation.
"We are grateful to the teams from the Commonwealth of Australia and Naval Group who have worked hard to achieve this agreement," said Guillou.