9.6 C
Friday, April 19, 2024
HomeDefenceRheinmetall Plans to Open at Least 4 Plants in Ukraine

Rheinmetall Plans to Open at Least 4 Plants in Ukraine


Related stories

Israel’s Intel Failure: ‘How Did This Happen?’

Explanations beginning to emerge after worst terror attack in...

Russia: Fake News Aims to Serbians

Frankfurt, Paris (14/4 – 40) Relations between Russia and NATO...

Sri Lanka ends visas for hundreds of thousands of Russians staying there to avoid war

Sri Lanka has told hundreds of thousands of Russians and...

Social media posts by Tajik president’s grandson unsettle ruling circles as leadership succession looms

Dushanbe 25/2 (35.71) The social networking activity of "influencer" Ismoil...

German arms manufacturer Rheinmetall plans to set up at least four factories in Ukraine to produce artillery shells, military vehicles, gunpowder, and anti-aircraft weapons, the AFP reported on March 14.

This could present a boost for Ukrainian defense production amid ammunition shortages and dwindling supplies from the U.S.

“Ukraine is now an important partner for us, where we see a potential of between 2 and 3 billion euros ($2.18-$3.27 billion) per year,” Rheinmetall CEO Armin Papperger said during a presentation of the company’s 2023 results, the AFP wrote.

Previously, the company signed a contract with the Ukrainian Defense Industry (Ukroboronprom) in October 2023 to repair and produce armored vehicles directly in Ukraine in a joint plant.

During the Munich Security Conference in February, Papperger signed a memorandum of intent with Ukraine’s Strategic Industries Minister Oleksandr Kamyshin to produce artillery shells in another joint plant based in Ukraine.

Source: The Kyiv Independent

Latest stories