Israel Shipyards Wins €80 Million Contract for Naval Vessels

The contract, which follows preliminary discussions reported in July 2026, is scheduled for completion within 30 months. It includes the delivery of a new vessel equipped with systems and mechanical infrastructure, alongside logistical support and system integration for an existing vessel in the client's fleet that was previously built by Israel Shipyards. The agreement also includes an option for further system and mechanical infrastructure installations on the existing vessel for an additional 13 million euros.

Under the payment terms, Israel Shipyards will receive an advance payment of approximately 20 million euros, representing 24 percent of the total contract value, with the remainder paid upon reaching agreed-upon milestones. The company will provide a 12-month warranty for the new vessel and a 10 percent performance bond. The deal remains subject to export permits and standard commercial clauses.

Israel Shipyards CEO Eitan Zuker stated that the agreement reflects client trust in the company's capabilities and experience. Alongside this international contract, Israel Shipyards is currently constructing five advanced Reshef-class corvettes for the Israeli Navy under a 2.4 billion shekel project.