Israel has agreed with Thyssenkrupp Marine Systems to develop and produce three advanced submarines for the Israeli Navy in a deal worth 3 billion euros ($3.4 billion), Israel’s Defense Ministry said on Thursday.
The parties also signed an industrial strategic cooperation agreement that amounts to more than 850 million euros, the ministry said.
The first submarine will be delivered within nine years, according to the agreement, which also includes the construction of a training simulator in Israel and the supply of spare parts.
Read more/Source: Economic Times
