Israel locks in $780 million deal with Israel Shipyards for five Reshef-class corvettes

The Israeli government has signed an agreement with local shipbuilder Israel Shipyards for the procurement of five Reshef-class corvettes.

The Director General of the Israel Ministry of Defense (IMOD) Eyal Zamir approved the procurement agreement on December 13, 2024, at the IMOD’s headquarters in Tel Aviv. 

 Under this contract, the IMOD will acquire five advanced Reshef missile ships from Israel Shipyards, with a total value of approximately $780 million (NIS 2.8 billion).

The acquisition received approval from both the Ministerial Procurement Committee and the Joint Committee of Defense Budget in the Knesset.

Under the agreement, Israel Shipyards will produce and supply the ships to the Israeli Navy over approximately six years, with an option for additional vessels in the future.

According to the authorities, the Reshef missile ship will be the Israeli Navy’s newest and most advanced Sa’ar-class ship. This multi-mission vessel was developed in collaboration with the Israeli Navy.

Specifically, these new ships will replace the Nirit Sa’ar 4.5-class missile ship, which will be decommissioned after four decades of service.

“The ‘Reshef’ agreement represents an integration of security, economic, and industrial priorities. These new vessels will strengthen the Israeli Navy’s expanding maritime capabilities,” Zemir said.

He added that by manufacturing them locally, the program is expected to enhance operational independence and continuity while securing hundreds of jobs in Israel.

To remind, in August 2021, Israel Shipyards signed a contract for the detailed design phase for the construction of the Reshef-class vessel.