Lithuania and Rheinmetall sign agreement to build ammunition production plant
Photo: Minister of Economy of Lithuania Ausrine Armonaite (Facebook)
Lithuania has signed a letter of intent with Germany's Rheinmetall to build an ammunition plant in the Baltic country, Reuters reports.
Lithuanian Economy Minister Ausrine Armonaite said that the plant will be one of the largest investments made in the Baltic country. Negotiations on a detailed investment agreement will now be held.
"We are attracting an investment which will generate returns and will help us to ensure autonomy in purchasing the armaments," she says.
Lithuania's deal with Rheinmetall
Earlier, the Lithuanian Seimas supported amendments to legislation that would allow large defense companies to start developing projects in Lithuania faster.
Lithuanian Minister of Economy and Innovation Aushrine Armonaitė said that the amendments to the law, which will facilitate Rheinmetall's entry, will make Lithuania one of the most favorable countries for the defense industry.
Earlier, Rheinmetall announced plans to build a plant in Lithuania to produce 155 mm artillery ammunition.
