Media: Lithuania to have 49% stake in Rheinmetall ammunition plant

Lithuania will have 49% stake in a joint venture with German defense giant Rheinmetall that will produce artillery ammunition, while the German company will own 51%.

This was confirmed to BNS by several unrelated sources, writes “European Pravda”.

Lithuania's share will be divided between the two companies. Epso-G Invest, an investment management company recently established by state-owned energy group Epso-G, will own 48%. 1% will belong to Lithuanian state-owned company Giraitės Ginkluotės Gamykla.

The Epso-G board is expected to decide on the investment in the joint venture and make an official announcement later this month, according to sources.

Epso-G, which manages Lithuanian power– and gas transportation companies Litgrid and Amber Grid, was previously responsible for the construction of a fence on the Lithuanian border with Belarus, the construction of the GIPL gas pipeline between Lithuania and Poland, and is now coordinating the synchronization of the country's power grid with Western Europe and the disconnection from the Russian and Belarusian energy systems.

Rheinmetall plans to start producing 155-mm artillery ammunition in Lithuania in mid-2026.

The German company wants to invest more than 180 million euros in the plant and create at least 150 new jobs.

As a reminder, on April 16, Lithuania signed a memorandum of understanding with Rheinmetall, which lays the foundation for the construction of a plant for the production of artillery ammunition. ammunition.