The location of the investment project, which has been granted “major” status, should be announced in the coming weeks.
Lithuania signed an agreement with the German concern Rheinmetall to build a plant for the production of shells. Its value will be 180 million euros, the Lithuanian Ministry of Economy and Innovation announced on Monday, June 3.
“The construction of the Rheinmetall plant in Lithuania is a huge step towards meeting the urgent defense and security needs of our country. It is expected that after an investment of more than 180 million euros the new production will create at least 150 new jobs,” said Minister Aušrine Armonaitė.
The location of the investment project, which has been granted “major” status, should be announced in the coming weeks. The plant is expected to produce tens of thousands of bullets per year.
“We are grateful for a long-term cooperation with Lithuania. It once again confirms our desire to be one of the pillars of national and international security,” said Rheinmetall CEO Armin Papperger.
Earlier in April, it became known that Lithuania had signed a protocol of intent with Rheinmetall to build an ammunition production plant in the country.
It was also reported that Rheinmetall recently received a large order for shells from a NATO member country worth approximately 300 million euros.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.