15 Mar 2024 11:40

Germany's Rheinmetall plans to build 4 arms plants in Ukraine - media

PARIS. March 15 (Interfax) - Germany's largest arms manufacturer Rheinmetall plans to build at least four plants in Ukraine to produce ammunition, military hardware, gunpowder and anti-aircraft systems, the Le Monde newspaper said.

Ukraine is now an important partner, and Rheinmetall sees a potential of between 2 billion euros and 3 billion euros in sales per year, Rheinmetall CEO Armin Papperger said when presenting the company's 2023 results on Thursday.

In mid-February, Rheinmetall announced an agreement with a Ukrainian company to produce 155mm artillery rounds in Ukraine.

The location of the plant, where construction is expected to start soon, has not been disclosed. It will be modelled on an ammunition factory that Rheinmetall is building in its historical place in northern Germany, in Unterluss, Le Monde said.

Papperger said that the output of 155mm rounds at all Rheinmetall enterprises is expected to reach 1.1 million a year in the mid-term. The company plans to make 700,000 rounds in 2025 and up to 500,000 in 2024. Previously, Rheinmetall produced 70,000 rounds per year, Le Monde said.