Canada to Invest $10 Billion in New Submarine Fleet on B.C. Coast
$10B Submarine Investment Coming to B.C. Coast
Ctv News
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Canada plans to invest over $10 billion in the Royal Canadian Navy to acquire 12 new submarines, replacing the aging Victoria-class vessels. The investment will also enhance infrastructure at CFB Esquimalt in British Columbia, benefiting the local community.
- 01The contract for the new submarines is contested between South Korean shipbuilder Hanwha Ocean and German manufacturer TKMS.
- 02Infrastructure upgrades at CFB Esquimalt will include jetties, training facilities, and maintenance buildings.
- 03Esquimalt Mayor Barb Desjardins highlighted the expected increase in Payments in Lieu of Taxes (PILT) due to development on the base.
- 04The west coast's share of the new submarines will be stationed on the Colwood side of CFB Esquimalt.
- 05Concerns regarding transportation and housing shortages have been raised as the military workforce expands.
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Canada is set to invest over $10 billion in the Royal Canadian Navy to acquire 12 new submarines, aimed at replacing the aging Victoria-class vessels. The competition for the contract is between South Korean shipbuilder Hanwha Ocean and German manufacturer TKMS. At a recent event at CFB Esquimalt, Cdr. David Patchell emphasized the necessity for new submarines, destroyers, and supply ships, stating that the investment will require significant infrastructure upgrades. Over the next decade, facilities such as jetties, training centers, and maintenance buildings will be constructed. Esquimalt Mayor Barb Desjardins expressed excitement over the anticipated growth, noting that federal properties contribute about 20% of the municipality's revenue, which is expected to increase with the new developments. The submarines will be stationed on the Colwood side of the base, which will benefit the local community. However, with the increase in military personnel, challenges such as transportation and housing availability have also been highlighted, prompting discussions about potential solutions like light rail transit and increased building density near the base.
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The investment will lead to significant infrastructure development at CFB Esquimalt, enhancing local economic growth.
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