Romania will receive European funding for a project carried out by Romarm together with Germany
Articol de Radiojurnal, 16 Martie 2024, 19:09
Romania will receive €47 million for a project run by Romarm together with Germany. This is the largest ever funding from the European Commission, which has released some €500 million for companies in member states to increase munitions production capacity.
The €513 million represents co-financing for 31 projects submitted by Member State companies, and in total will lead to an investment of €1.4 billion.
The budget allocated to the Romanian project is the largest of the 31 winning projects, along with another from France and Sweden.
The €513m tranche is the first of a €2bn budget that will be allocated to increase ammunition production, with the overall aim of strengthening the industry.
The first 31 projects cover several areas of production, namely explosives, ammunition powders - which includes the Romanian project - artillery projects, missiles and various certifications.
According to Commission representatives, by the end of 2024, European arms production will reach an annual capacity of 1.000.000 155-calibre projectiles, and will double by the end of 2025.
At the same time, the commission is recommending that member states make larger joint procurements to give a signal of medium and long-term predictability to the arms industry.
Translated by: Radu Matei
