After the parties signed the final agreement, there were no more obstacles to the construction of the weapons factory.
German arms concerns Rheinmetall and two Lithuanian state-owned companies: the Epso-G energy group Epso-G Invest and the Giraite arms factory – signed an agreement to create a joint venture (JV) that will implement the project for a plant for the production of 155-mm artillery ammunition in Baisogali , its initial cost is 260 million euros. The LRT announced this on Monday, December 30.
After the parties concluded the final agreement, there were no more obstacles to the construction of the plant.
Rheinmetall will own 51%, Epso-G Invest will own 48%, and Girait arms factory will own 1% of Rheinmetall Defense Lithuania.
“The agreement has been signed, all parties are committed to contribute the expected share to the implementation of the project,” said Epso-G representative Gediminas Petrauskas.
The initial cost of the project may still change depending on the process of its implementation. The maximum cost of the project is estimated at around 300 million euros.
Earlier it became known that Rheinmetall is starting to build a plant for the production of artillery shells in Lithuania.
Source: korrespondent
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