Israel signs $3.4 bln submarines deal with Thyssenkrupp

Israel has agreed with Thyssenkrupp Marine Systems to develop and produce three advanced submarines for the Israeli Navy in a deal worth 3 billion euros ($3.41 billion), Israel's Defense Ministry said on Thursday.

The parties also signed an industrial strategic cooperation agreement that amounts to more than 850 million euros, the ministry said. ($1 = 0.8810 euros)