Government Operations committee  Thank you. I'm Mr. Fulfaro. I'm really happy and it's a honour. It is my pleasure to be with you today representing Fincantieri. Fincantieri is one of the most important shipyard groups in the world. We are really honoured to be here today to discuss our capabilities with you.

Government Operations committee  Sure. It's my pleasure and honour to introduce Fincantieri. Fincantieri is one of the most important shipyard groups in the world, with the background of over 250 years of history and more than 7,000 ships built. We are not only involved in the military field, but also in cruise

Government Operations committee  The point is that we feel also through our international experience that what we are doing in the different important programs is that we are aiding all over the world—in Italy, but also in the U.S., Indonesia, Egypt and other important countries in which we are offering a multi-

Government Operations committee  We cannot say what was refused. There was a tender. You know the story. We were out of the tender because in the terms and conditions of the tender the scope of work was unclear. There were many points that were not fixed in the right way, so we proposed, with our solicitor, the

Government Operations committee  That's correct. We wrote a letter saying in detail the reason why we felt it was not the proper way. If you go through that letter, you see today that we were right. We say there is a high risk when you consider—not in a proper way—the scope of work between the bidder and the sel

Government Operations committee  As I said before, we wrote a letter regarding this. In this letter we wrote about the main issues and the areas that were unclear regarding this first level of bid, considering our experience in the international market and our experience in negotiating a very complex program wit

Government Operations committee  The fixed price we submitted was not $30 billion. I don't know the data you are using. This was not our proposal. In the market capability of Fincantieri, we never proposed in international markets a frame for frigates for $2 billion, $3 billion, $4 billion or $5 billion per sh

Government Operations committee  It was our initiative. We were not contacted regarding this because we were confident at that time with a French partner on the value for proposal. We were confident on the price. We were confident on the quality. We were confident that our proposal, considering the discussion we

Government Operations committee  It's because Irving is capable. We know Irving. We know the skills and facilities. We feel that we could be the right partner. We could also be the right partner not only for the production, but for the complete management of the program. I want to underline the fact that the k

Government Operations committee  I'm sorry. Is that question to me?

Government Operations committee  Yes, I can reply in a general view regarding this. We are open, also, to consider the Quebec capabilities. It's not a problem. I repeat again, the problem is not the local shipyard. The problem is not the local capabilities. The problem is how you manage the program, considerin

Government Operations committee  I don't know what the $70 billion is in reference to, because as I said before, and I want to remark again, the FREMM frigate has a different cost per unit. When I heard the $70 billion, we were out of mind.... I want to be clear regarding this. The price in the market of the FRE

Government Operations committee  That's a good point. We can stay a couple of hours regarding this, but I have a few seconds to reply to this question. I come back again to the fact that we are talking about a well-proven design. When I say well-proven design, it means that these are proven at sea. We complete

Government Operations committee  In our proposal, we proposed to have a proper transfer of the technology in order to have all of the production in Canada. This is the future idea of our proposal, not the value of the proposal we did. The idea of our approach was to make a transfer of technology to have the loca

Government Operations committee  Can you translate that into English? I didn't receive a translation.