The Defense Ministry and Germany’s ThyssenKrupp Marine Systems have signed an agreement for the development and production of three advanced submarines for the Israeli Navy, the Defense Ministry announced on Thursday.
Report informs, citing foreign media, that the price of the three Dakar-class diesel-electric submarines will cost more than double the original cost for a total of an estimated €3b. The German government will fund one-third of the cost in accordance with an agreement signed between the countries in 2017.
The first submarine will be delivered within 9 years. The agreement also includes the construction of a training simulator in Israel as well as the supply of spare parts.
The German government will fund one-third of the cost in accordance with an agreement signed between the countries in 2017.
The two countries on Thursday also signed an industrial strategic cooperation agreement that amounts to over €850 million which includes investment in Israeli industries such as defense companies.