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Four ships under construction for the Israeli Navy are being constructed in Abu Dhabi by a company partially owned by a Lebanese national, Israeli media reported Sunday.Israel has been beefing up its navy after offshore gas fields were discovered, it had previously commissioned six warships from ThyssenKrupp.The news comes after it was revealed that IFIC, an Iranian-based holding company, owns a 4.5 percent of ThyssenKrupp. Iran is Israel's main rival in the region and is loathed by the Jewish state for its support for Hezbollah, the force that drove the Israeli army out of south Lebanon in 2000 and inflicted significant losses on its military during the 34-day 2006 war. ThyssenKrupp told the Agence France Presse that IFIC owned approximately 7 percent of the company until May 2003, when it fell below 5 percent.
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