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Finance

German defence minister seeks 4.7 billion euro deal to buy four submarines, sources say
2024-11-29T072700Z_1_LYNXNPEKAS08M_RTROPTP_4_GERMANY-DEFENCE

Published : 1 week ago, on

BERLIN (Reuters) – German Defence Minister Boris Pistorius wants to purchase four submarines in a deal worth over 4.7 billion euros ($5 billion) that must be put to a parliamentary spending committee for approval, two sources told Reuters on Friday, confirming a news report.

In a request submitted to the committee, the ministry says the acquisition is needed for Germany to fulfil new NATO requirements for better protection of the alliance’s northern flank, according to Spiegel news magazine, which has seen the documents.

Spiegel reported that the ministry is seeking to procure four more submarines of the type U212CD, manufactured by Thyssenkrupp Marine Systems.

Members of the budget committee told Reuters that they are analysing the proposal.

We are paying particular attention to the proposal to purchase additional submarines due to its importance in terms of security policy, but also because of the high amount of funds required,” Karsten Klein, member of the budget committee from the Free Democrats (FDP), said.

($1 = 0.9446 euros) (This story has been refiled to add the dropped word ‘say’ to the headline)

 

(Reporting by Rachel More and Maria Martinez, editing by Thomas Seythal)

 

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