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Wednesday, February 01, 2012

Long-range decision for subs project

Collins class submarineThe Federal Government has 18 months to decide whether to build its new $36 billion submarine fleet in Australia or source it from overseas.

Defence Minister Stephen Smith said yesterday he would take a proposal to Cabinet within weeks seeking funds for a serious examination of the options, ranging from 12 locally built subs to 12 "off-the-shelf" boats from an overseas company.

A final decision will be needed within the next 18 months if the 2025 target for a new boat is to be met.

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