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Tuesday, May 08, 2012

Next 3 Dolphin subs to cost 1.4b euros

[INS Dolphin]The cost of building the three Dolphin class submarines on Israel's naval shopping list will reach 1.4 billion euros, of which a third will be covered by the German government.

Germany has also undertaken to make 400 million euros worth of defense and other purchases from Israeli suppliers, as part of the financing arrangements.

Tanin (Crocodile ), the first of the three subs, and the fourth one that Israel has purchased from Germany since 1998, was formally accepted by the Israeli navy at a ceremony at the Kiel shipyard in Hamburg last Thursday, where the subs are being built.

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