The Australian National Audit Office report from May 22, 2026, details $693 million spent by February on the Life of Type Extension project for the six Collins boats, launched in 2018 to keep them running into the 2030s.
Technical risks, delays, and the 2021 cancellation of the French Attack-class deal caused the effort to unravel, with a key design contract swelling from $125 million to $813 million and most milestones missed by an average of 12 months.
Defence has shifted to a $11 billion refurbishment for five subs and accepted recommendations for better risk management, amid broader criticism of $9.4 billion in sunk costs from shifting submarine plans under AUKUS.
