Israel Shipyards to Supply Naval Vessels to Foreign Government for €80 Million
Translated & summarized from TheMarker by baba
Israel Shipyards has signed an €80 million deal with the Ministry of Defense to supply naval vessels to a foreign government client. The subsidiary will receive a €20 million advance payment, with delivery expected within 30 months. The agreement also includes an option for further system installations worth €13 million.
The story in 5 lines · by baba
- Israel Shipyards will supply naval vessels to a foreign government for €80 million.
- The deal was facilitated through an agreement with the Israeli Ministry of Defense.
- The company will receive an initial advance payment of approximately €20 million.
- Delivery of the vessels is expected to be completed within 30 months.
- An additional €13 million option exists for system installations on an existing vessel.
Israel Shipyards announced on Monday that its subsidiary, also named Israel Shipyards, has signed an agreement with the Ministry of Defense to supply naval vessels to a foreign government client. The deal is valued at a total of €80 million. This agreement was made within the framework of a larger contract between the Israeli Ministry of Defense and the foreign governmental customer.
The delivery of the vessels and completion of the work are expected within approximately 30 months. The company will receive an advance payment of around €20 million. The agreement also includes an option for an additional €13 million for the installation of systems on an existing vessel.
