The company Rheinmetall will receive 130 million euros from the EU to increase the production of ammunition

The funds will be used to implement six projects of Rheinmetall AG's European subsidiaries in Germany, Hungary, Romania and Spain.

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The German giant Rheinmetall, one of the largest European arms manufacturers, will receive additional funding from the EU to increase the production of artillery shells. As part of the Ammunition Support Act (ASAP), the company will receive a subsidy of 130 million euros. This was reported by Rheinmetall's press service on March 26.

It is noted that more than a quarter of the total amount of 500 million euros allocated by the EU within ASAP for the purpose of expanding the production of 155-mm artillery ammunition and gunpowder will be directed to implementation of six projects of the European subsidiaries of Rheinmetall AG in Germany, Hungary, Romania and Spain.

“We are grateful that the European Union has given us the confidence as one of the most important European suppliers of 155 mm ammunition to consider us to a large extent in its funding program”, — said the general director of Rheinmetall, Armin Papperger.

According to him, it is difficult to overestimate the importance of the potential of artillery in view of the experience of combat operations in Ukraine. Therefore, European countries need to replenish their stocks of artillery ammunition and defense enterprises are already actively working on this.

It is also reported that the German giant is increasing its production capacity from 2022 and aims to annually produce up to 1.1 million artillery shells by 2027. year In addition, starting in 2026, it is planned to produce up to 1.5 million projectile modular charges and 3,000 tons of explosives annually.