German company Rheinmetall and the Latvian state defense corporation are establishing a joint venture for the production of ammunition in Latvia. Investments in the project will amount to €275 million, which will allow the production of tens of thousands of artillery shells annually.
German arms giant Rheinmetall will build a shell production plant in Latvia. An agreement on the creation of a joint venture was signed in Hamburg. This is reported by DW, transmits UNN.
Details
It is noted that this will be a joint venture: Rheinmetall Waffe Munition GmbH will receive 51% of the shares, and the Latvian state defense corporation – 49%.
The project will invest €275 million, and about 150 jobs are planned to be created. The plant will be able to produce tens of thousands of artillery shells per year. The creation of its own 155-mm ammunition production line will be another step for Latvia in strengthening its defense capabilities.
– the post says.
According to DW, Rheinmetall's plans are related to the growing needs of the Bundeswehr, as well as other Western armies and the Armed Forces of Ukraine against the backdrop of the threat from Russia.
Earlier, the company announced that from 2027 it intends to produce about 1.5 million artillery shells annually.
"At the end of August, Rheinmetall opened a new plant in Unterlüß (Lower Saxony), which, when fully loaded, will become the largest ammunition producer in Europe. The concern also produces artillery shells in Spain and plans to build similar enterprises in Lithuania, Romania and Bulgaria. There is a possibility of creating a plant in Ukraine," DW writes.
Recall
German manufacturer Rheinmetall opened Europe's largest artillery shell production plant near Hanover on August 27. The enterprise will produce up to 350,000 shells per year after reaching full capacity in 2027.
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