File photo dated July 12, 2019 of French President Emmanuel Macron and CEO of Naval Group Herve Guillou during the launch of the submarine built by Naval Group at the French naval base in Cherbourg, north-western France. President Joe Biden on Wednesday had announced a new US security alliance with Australia and Britain that would develop an Australian nuclear-powered submarine fleet. As a result, Australia notified France that it would end its contract with state majority-owned DCNS to build 12 of the world’s largest conventional submarines. Australia has spent 2.4 billion Australian dollars ($ 1.8 billion) on the project since the French won the contract in 2016. Photo by Romain Gaillard/Pool/ABACAPRESS.COM