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Hanwha Ocean and Babcock International have proposed a trilateral partnership for Canada's CAD 60 billion Canadian Patrol Submarine Project, aiming to replace the Victoria-class submarines with 12 KSS-III submarines. Hanwha will supply the submarines, featuring lithium-ion batteries and AIP systems, while Babcock will oversee subsystems and localization efforts in Canada. If successful, this deal would mark South Korea's largest defense export contract, with the first four submarines expected by 2035 and completion by 2043.