Germany's Rheinmetall to build artillery ammunition plant in Ukraine

The German arms manufacturer and a Ukrainian partner company signed a respective declaration of intent on the sidelines of the 60th Munich Security Conference on Saturday, Ukrinform reports, citing Focus.

"We want to be an efficient partner for Ukraine in rebuilding the once strong defense industry in Ukraine and ensuring the autonomy of Ukrainian capacities," said Rheinmetall's CEO, Armin Papperger, commenting on the decision.

According to the report, Ukraine's Minister for Strategic Industries, Oleksandr Kamyshin, was present at the signing ceremony.

The joint venture is expected to produce a six-figure number of shells per year.

As was reported earlier, Rheinmetall last year set up its first joint venture with a Ukrainian partner for the maintenance and repair of tanks in Ukraine. According to Rheinmetall, the production of armored vehicles is also planned there.

Photo: dpa