Argentina’s submarine and frigate acquisitions resurface with $3.5bn funding plan
The Argentine Navy’s Espora-class frigate ARA Gomez Roca navigates the Atlantic Ocean as part of Southern Seas 2010. (Photo: US Navy)
Buenos Aires set out foreign loans worth $3.5 billion in its draft 2027 budget, opening a contest in which Naval Group and TKMS could lead the field.
Argentina’s draft 2027 budget earmarked foreign borrowing of US$3.5 billion to acquire three conventional submarines and two multi-mission frigates, offering one of the strongest indications that Buenos Aires intends to rebuild its naval capabilities.
The budget document listed the acquisition of three conventional submarines for Mar del Plata Naval Base, financed by a foreign loan of $2.3 billion. It also listed the incorporation of two multi-mission frigates for Puerto Belgrano Naval Base in Buenos Aires Province, backed by a $1.2 billion foreign loan. Both loans carried a minimum repayment term of three years.
Argentina’s budget linked rising defence spending
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