Rheinmetall receives EUR 130M from EU to increase ammunition production

Rheinmetall receives EUR 130M from EU to increase ammunition production

The European Union has allocated more than EUR 130 million to Germany’s arms manufacturer Rheinmetall to increase ammunition production.

According to Ukrinform, the press service of Rheinmetall said this in a statement.

The funds will be used to expand the production of 155mm artillery ammunition and powder. “The programme will support projects in Germany, Hungary, Romania and Spain,” the statement says.

Rheinmetall recalled that in total, this year the EU will allocate about 500 million euros to increase ammunition production. “The great importance of artillery is evident from the Ukraine's battle to defend its country. The European armed forces also need to replenish their stocks of artillery ammunition. We are ready for this and we are already working on it,” said Armin Papperger, CEO of Rheinmetall AG.

Rheinmetall has been increasing its production capacities since 2022 and the company aims at producing up to 1.1 million artillery shells per year by 2027, the company’s press service added.

As Ukrinform reported earlier, Rheinmetall sees huge potential in Ukraine and plans to invest in at least four plants in Ukraine.

Photo: dpa

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Extended searchHide extended search
By period: