Israel inks $3.4 B submarine deal with Germany’s Thyssenkrupp

On Thursday, the Israeli Defence Ministry mentioned that the country has taken a confident move and has agreed to develop and produce three advanced submarines with German’s Thyssenkrupp Marine Systems in a deal worth 3 million Euros ($3.4 billion).

On Thursday, the Israeli Defence Ministry mentioned that the country has taken a confident move and has agreed to develop and produce three advanced submarines with German’s Thyssenkrupp Marine Systems in a deal worth 3 million Euros ($3.4 billion).

Defence minister Benny Gantz mentioned, “I express my gratitude to the German government for signing this important pact and for its commitments to Israeli’s security. I am convinced that this latest agreement will contribute to Israel’s security superiority in the region, and new submarines would also upgrade the capabilities of the Israeli defence force.”

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The ministry further said that the parties also filed an agreement for industrial strategic cooperation that would be worth 850 million Euros. The agreement will also include the construction of a training simulator in Israel and the supply of spare parts.

According to the government source, the first submarine would be delivered for nine years under this agreement. For now, Israel Navy has five Dolphin-class submarines built in Germany, and the sixth one is under construction in Germany. These new submarines by Germany will replace the three Dolphin submarines, which have been aged.

Thyssenkrupp, while sharing information about the submarines, Dakar, said, “The Dakar class would be specially designed to fulfil the requirement and demands of the Israeli Navy. It will also be of a new design”.

The Israeli defence ministry made this announcement just a few days before the Israeli cabinet is due to discuss the formation of a panel that would evaluate the decision-making process behind purchases of submarines and missile boats.

Last year, the Israeli prosecutor charged several Israelis in connection with money laundering, tax invasion, and bribery in the deals cracked between 2009 and 2016. However, the German multinational conglomerate has not taken action following an internal investigation, which did not find any evidence.

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