Israel Shipyards is a large shipbuilding and repair facilities in the eastern Mediterranean.

[2] The company also operates a privately owned port in Israel.

The company was founded in 1959 by the State of Israel to build both military and civilian ships, and to provide marine engineering upgrade, maintenance and repair services.

In 1995, following years of underperformance and continued losses under state ownership, the company was privatized and sold to a group of local investors who, since 1998, have returned it to profitability.

With the new Mini Corvette the shipyard hoped to expand its offering to meet the evolving requirements, of the Israeli Navy, as well as of international customers overseas.