France and Germany have each offered to finance in full Argentina's acquisition of three submarines, the head of the country's Joint Staff has confirmed.
The Argentine Navy has technically evaluated the Naval Group's Scorpène Evolved and the Type 209NG offered by TKMS.
"Whichever of the two options we choose, they are among the best submarines in the world today," said Admiral Marcelo Dalle Nogare, Argentine newspaper Clarín has reported.
Navy chief Admiral Juan Carlos Romay submitted an assessment to the Ministry of Defence after engaging with both companies. The ministry has since forwarded it to the executive, which will make the final decision.
Clarín put the cost of the acquisition at slightly more than €3 billion (US$3.3 billion), with a first delivery expected about six years after an initial agreement is signed.
The draft 2027 national budget, which was submitted to the Chamber of Deputies on September 15, includes a US$2.3 billion loan authorisation for three conventional submarines to be based at Mar del Plata Naval Base. A separate US$1.2 billion line covers two multi-mission frigates. Both lines carry a minimum amortisation period of three years.
The budget provision authorises the government to negotiate the loans but does not allocate funds for the 2027 financial year. Any purchase depends on securing financing and on congressional approval of the budget.
Clarín reported that additional appropriations could later be sought to cover the gap between the borrowing line and the estimated cost.
Dalle Nogare and Romay said the purchase is intended to restore the capability lost with the sinking of the submarine ARA San Juan.
Argentina has had no operational submarine since the TR-1700-class boat was lost with all 44 personnel aboard on November 15, 2017.
A completed Scorpène Evolved boat will have a length of 72 metres and a surfaced displacement of between 1,600 and 2,000 tonnes. The Naval Group is already building baseline Scorpène-class boats in Brazil.
The Type 209NG will meanwhile measures 63 metres long and displace 1,590 tonnes while surfaced.