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High-Stakes Submarine Bidding War Escalates as Fincantieri-TKMS Pitch U212 NFS to the Philippine Navy

High-Stakes Submarine Bidding War Escalates as Fincantieri-TKMS Pitch U212 NFS to the Philippine Navy

In a bold move to capture a strategic foothold in Southeast Asia’s defence market, Italian naval powerhouse Fincantieri and German submarine specialist Thyssenkrupp Marine Systems (TKMS) have inked an industrial cooperation agreement aimed at supplying the Philippine Navy with next-generation submarines—escalating an already heated contest among global shipbuilders for one of Asia’s most closely watched defence procurements.