site.btaUPDATED Bulgaria and Rheinmetall Sign Agreement to Build Gunpowder and Ammunition Factory
The Bulgarian government and German automotive and arms manufacturer Rheinmetall officially announced on Tuesday morning the start of a project to build a gunpowder and ammunition factory in Bulgaria.
At a ceremony held at the Council of Ministers building, an agreement was signed by Rheinmetall CEO Armin Papperger and Rheinmetall CEO Division Weapon and Ammunition Roman Kohne on one side and by VMZ ordnance plant Executive Director Ivan Getsov on the other side.
The ceremony was also attended by Prime Minister Rosen Zhelyazkov, Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev, Minister of Economy and Industry Peter Dilov, GERB Chair Boyko Borissov, and Ambassador Extraordinary and Plenipotentiary of Germany to Bulgaria Irene Maria Plank.
Earlier Tuesday, Borissov welcomed the leadership of Rheinmetall upon their arrival at Sofia Airport and thanked the representatives of the German company for the cooperation.
The Council of Ministers announced that the project is of strategic importance not only for Bulgaria but also for Europe as a whole. The investment of nearly EUR 1 billion is one of the most significant in recent years and is a key step in the modernization of the Bulgarian defence industry. It is also part of the efforts of the European Union and NATO to strengthen Europe's defence capabilities and strategic autonomy in the context of the changing geopolitical environment, the Cabinet said.
According to the Cabinet, economic growth, the development of state-of-the-art production facilities, and nearly 1,000 new highly skilled jobs are just some of the benefits Bulgaria will reap from the implementation of this project. With the construction of the plant, Bulgaria will restore a key element of its defence capacity and strengthen its position in the European defence industry. The innovative plant for the production of gunpowder and 155 mm shells and modular charge systems will be implemented through a joint venture between Rheinmetall and VMZ Sopot, which operates Bulgaria's largest state-owned defence factory.
/NF/
Additional
news.modal.image.header
news.modal.image.text
news.modal.download.header
news.modal.download.text
news.modal.header
news.modal.text