Canada to spend $8 billion on new icebreakers

The Canadian government will allocate 11.3 billion Canadian dollars (approximately $8 billion) for the construction of six new icebreakers for the Coast Guard, Prime Minister Mark Carney announced, Report informs, citing Bloomberg.

Carney, speaking in Lévis, Quebec, noted that construction will begin in fall 2027 and take about five years to complete. He added that the project is expected to create around 5,000 jobs.

According to Carney, the vessels will be built by Chantier Davie Shipyard and will replace the Coast Guard's aging heavy and medium icebreakers. The prime minister described the contract as the largest agreement in the province's shipbuilding history.

Canada currently operates the world's second-largest icebreaker fleet after Russia, regularly escorting American vessels in the Arctic.

Carney previously pledged that Canada can protect its vast Arctic territory without relying on other countries.