Canada Announces $1.5bln for Shipbuilding

The federal government of Canada announced $1.5 billion in contracts to keep a dozen warships running for another 20 years as part of Canada’s decades-long, multi-billion-dollar national shipbuilding strategy.

The National Shipbuilding Strategy is a long-term project to renew Canada's federal fleet of combat and non-combat vessels.

"We formed partnerships with two Canadian shipyards to deliver much-needed vessels to the Royal Canadian Navy and the Canadian Coast Guard. The strategy provides economic benefits to Canadians and rebuilds our country’s shipbuilding industry," said a statement from the government.

Under the National Shipbuilding Strategy (NSS), the government has formed partnerships with the two shipyards, Irving Shipbuilding Inc. and Seaspan Vancouver Shipyards to renew Canada’s federal fleet of combat and non-combat vessels.

Under the third pillar of the strategy, opportunities are available for Canadian shipyards and businesses across the country for small ship construction, maintenance repair, and refit.