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Australia signs $50 billion submarine contract with France after two-year squabble

Australia signed a production contract with French shipbuilder Naval Group on Monday for a fleet of 12 new submarines, worth A$50 billion ($35.5 billion), ending a two-year wrangle that cast doubt over one of the world’s most lucrative defense deals. Australia selected the French builder as its preferred bidder for the fleet of submarines in 2016 ahead of other offers from Japan and Germany.

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