Rheinmetall in talks on constructing tank manufacturing facility in Ukraine

© Reuters. FILE PHOTO: A KF51 Panther tank manufactured by Rheinmetall is displayed on the Eurosatory worldwide protection and safety commerce truthful in Villepinte, close to Paris, France June 13, 2022. REUTERS/Benoit Tessier
FRANKFURT (Reuters) – German defence contractor Rheinmetall is in negotiations about constructing a tank manufacturing facility in Ukraine, the newspaper Rheinische Publish reported on Saturday, citing an interview with CEO Armin Papperger.
Rheinmetall makes ammunition, different navy tools and in addition the Leopard tanks that Germany determined to ship to Ukraine, which the corporate produces collectively with Krauss-Maffei Wegmann.
“A Rheinmetall plant might be arrange within the Ukraine for round 200 million euros ($212.64 million), which might produce as much as 400 Panthers a yr,” Papperger was quoted as saying. Panthers are the corporate’s newest battle tanks fashions.
“Talks with the Ukrainian authorities are promising and I hope for a call within the subsequent two months,” he added.
Whereas the Western Allies have been sending sufficient arms for Ukraine to defend itself, the Ukrainians at present would not have sufficient tools to completely retake their territory, Papperger stated.
He stated Ukraine wanted 600 to 800 tanks and the development of recent tanks should begin rapidly to attain that quantity, he stated.
Rheinmetall will be a part of Germany’s blue chip this month, Deutsche Boerse (ETR:) stated on Friday, citing elevated defence spending because of the struggle in Ukraine.
Its shares hit a file excessive in January after Germany’s resolution to ship the heavy Leopard tanks to Ukraine.
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