The Mitsubishi Heavy Industries Group announced Tuesday that the Australian government has chosen it to build a new fleet of warships for the nation's navy.

Australia has awarded Mitsubishi Heavy Industries a A$10 billion contract to supply new navy frigates. The Mogami-class was chosen over ThyssenKrupp's MEKO A-200, marking the largest defence investment since nuclear submarines in 2023.

Australia says it has accepted a Japanese company's bid for a lucrative and hotly contested contract to build Australian naval vessels, expected to be worth 10 billion Australian dollars ($6.5 billion