The Finnish Ministry of Defense has pledged to invest approximately 24 million euros in increasing the production of large-caliber ammunition.
Finnish Defense Minister Antti Häkkänen decided on December 12 to increase local ammunition production capacity to enable long-term support for Ukraine. This was reported by the press service of the Finnish Ministry of Defense.
The agency is committed to investing approximately 24 million euros in increasing the production of large-caliber ammunition and obtaining long-term orders from the Finnish industry, which will allow the industry to invest independently.
Finnish industry will also be able to apply to the EU for support under the Ammunition Support Regulation financial package, known as ASAP (Ammunition Support Act).
The total investment of the Finnish Ministry of Defense and industry is about 120 million euros. This will allow production capacity to more than double from current levels.
According to Häkkanen, the current decision will significantly increase Finland’s heavy ammunition production capacity, which will allow for long-term support for Ukraine until the 2030s.
He added that the production of ammunition in the country has increased several times compared to the period before Russia’s full-scale invasion of Ukraine. In addition, since the beginning of the war in Ukraine, the Ministry of Defense has placed long-term orders for heavy ammunition in the domestic industry. This made it possible to hire additional personnel and increase ammunition production at existing facilities.
It was previously reported that Finland plans to produce ammunition for Ukraine.
We remind you that the Finnish government has made changes to the budget for next year, which provides for an increase in aid to Ukraine by more than 95 million euros.
Source: korrespondent
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