May 13 2015
The Israeli Defense Ministry has signed a contract with a German shipbuilder for four patrol corvettes, reports the Jerusalem Post.
The deal with ThyssenKrupp Marine Systems was signed on Monday at the Israeli Defense Ministry in Tel Aviv.
Negotiations for the deal lasted more than five years, reported Defense News.
The contract is worth 430 million euros (US$482 million), with a German government grant to cover 115 million euros (US$129 million) of the cost.
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