The cost of the plant for producing solid rocket propellant for Flamingo missiles, which the Ukrainian company Fire Point is building in Denmark, is estimated at more than €150 million. Fire Point CEO and CTO Iryna Terekh said this during a press conference at the DALO Industry Days arms exhibition, UNN reports.
"At present, this is a very rough estimate. But the initial plan was to complete the entire project within €50 million. The cost has now risen to more than €150 million," Iryna Terekh said.
According to her, the cost tripled after it became clear that the first building purchased by the company was unsuitable for housing solid rocket propellant production, and the company was forced to build a new facility.
Iryna Terekh also added that Fire Point is already producing rocket propellant in Ukraine.
"But when it came to scaling up production, given the need for predictable capacity located in a safe place, we chose Denmark—or, more precisely, accepted Denmark's very generous invitation to establish such a plant here," she explained.
The CEO of Rocket Technology, a subsidiary of Fire Point, Viacheslav Bondarchuk, added that 100 people are working on the project, 15 of whom are executives and managers, while the rest are contractors. In the future, the company plans to hire several hundred more people for administrative positions, its engineering team, and production.
"Our first and foremost goal is to solve what is, so to speak, a common European problem (…). And we plan to open a plant here (in Denmark—Ed.) that will have enormous capacity to produce large quantities of solid rocket propellant, initially for Fire Point. We will also be able to supply other companies," Bondarchuk said.
According to him, the plant is currently under construction. The company already has all the necessary permits to build the plant and begin producing solid rocket propellant. The plant is scheduled to become operational by the end of 2027.
We remind you
As UNN reported, Fire Point is building a solid rocket propellant plant in the Danish town of Vojens, in the south of the country. This is the first case within NATO in which a member state has allowed a Ukrainian defense company to establish a production site on its territory.
For Fire Point to be able to begin producing solid propellant for Flamingo missiles, the Danish authorities removed more than 20 legislative barriers.
Locating production in Denmark will minimize the risk of a possible Russian strike on the facility.