OTTAWA - Ottawa is launching a new federal procurement agency designed to overhaul and centralize military equipment purchasing.

Secretary of State for Defence Procurement Stephen Fuhr, who will oversee the new Defence Investment Agency, told The Canadian Press the agency will deliver equipment to the Canadian Armed Forces at a faster pace that meets its needs.

"We cannot be trapped outside the technology cycle with procurement. If we deliver stuff late, then it's irrelevant and we don't want to be there," he said.

"So … we're going to move at the speed of relevance to meet the moment."

Fuhr insists the new agency will not amount to another layer of bureaucracy that could further slow the process.

"We're not adding anything. We're actually consolidating things into one spot," he said.

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