Rheinmetall and Lithuania will establish a joint venture for ammunition production.

The German arms manufacturer Rheinmetall and two Lithuanian state companies have signed an agreement to establish a joint venture. They will produce 155-millimeter artillery ammunition.

This information was reported by RBK-Ukraine citing LRT.

According to the publication, Rheinmetall has signed a contract with the energy group Epso-G's enterprise Epso-G Invest and the arms factory in Giraitė. Together, they will build a factory for producing 155-millimeter artillery ammunition in Baisogala, with an estimated cost of 260 million euros.

Rheinmetall will hold 51%, Epso-G Invest will own 48%, and the arms factory in Giraitė will have 1% of the shares in Rheinmetall Defence Lithuania.

"By signing the agreement, all parties committed to contribute their expected share to the project's implementation," noted Epso-G representative Gediminas Petrauskas.

Rheinmetall in Ukraine

Recall that at the end of October, Rheinmetall's director Armin Papperger announced that his company opened the first factory in Ukraine. A total of four such factories will be built.

He clarified that one of these factories will manufacture ammunition.