Canada to invest C$4.9 bln to modernize NORAD, says defense minister

Canada will invest C$4.9 billion ($3.8 billion) over next the six years to modernize NORAD, the joint U.S.-Canadian North American defense organization, Defense Minister Anita Anand said on Monday.

"This is the most significant upgrade to NORAD from a Canadian perspective in almost four decades," Anand said, adding that the investment plan has a total value of about C$40 billion over the next 20 years. ($1 = 1.2991 Canadian dollars)