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1/20, 10:59 AM (Source: TeleTrader)
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Israel to buy German submarines in €3B deal

Israel's Defense Ministry announced on Thursday it signed an agreement to buy three German submarines developed by ThyssenKrupp Marine Systems in a deal worth €3 billion.

"The procurement of three advanced, operational submarines joins a series of measures that we have taken in the past year in the process to equip and strengthen the Israeli Defense Forces," Defense Minister Benny Gantz (pictured) stated and added the deal will "contribute to Israel's security superiority in the region."

The German government will fund one-third of the cost in accordance with a previous agreement signed by the two countries in 2017 and the first submarine is set to be delivered in nine years.

Baha Breaking News (BBN) / NP