Half-price super subs tempt Australian navy

Australia can build a new fleet of 12 state-of-the-art submarines in Adelaide for $18 billion, less than half the cost of initial estimates, according to a major report to be released next month.

The report, by strategic think tank the Kokoda Foundation, will be embraced by the Gillard government, which has been under pressure from critics to opt for smaller, cheaper, ready-made submarines from Europe rather than pursue Navy's more expensive but preferred option of building a next generation of the Collins-class boats.

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