The German concern Rheinmetall has received more than 130 million euros in funding from the European Union to increase the production of ammunition. This is stated on the Rheinmetall website, UNN reports.
Details
It is noted that the concern will allocate more than a quarter of the total €500 million to six projects in the company's European subsidiaries, in particular in Germany, Spain, Romania, and Hungary. The EU has allocated this assistance under the Ammunition Production Support Act to expand the production of 155 mm artillery ammunition and powder.
We are grateful for the trust of the European Union in providing Rheinmetall, one of the most important European suppliers of 155 mm ammunition, with significant funding. The importance of artillery is evident in Ukraine's defense battles. The European armed forces also need to replenish their artillery ammunition stocks. We are ready for this and are already working on it
The German defense concern aims to produce up to 1.1 million artillery munitions annually by 2027.
Rheinmetall plans to produce up to 1.5 million metal charge modules and 3,000 tons of hexogen explosives annually starting in 2026. At the same time, the company began to increase its production capacity in 2022.
Rheinmetall to build at least four plants in Ukraine15.03.24, 00:17