The leader of GERB - Boyko Borisov, welcomed the director of "Rheinmetall" Armin Paperger, at the airport in Sofia.
Welcome, we met all the deadlines, were Borisov's first words."Orban and I were competing to see who would be faster," the GERB leader added to the Hungarian Prime Minister. Boyko Borisov warmly embraced the German manager and led him to take a picture of himself at the VIP.
The German technology concern "Rheinmetall" (Rheinmetall) and the Bulgarian state-owned plant VMZ-Sopot officially launched a project to build a gunpowder and ammunition plant. The investment is worth nearly 1 billion leva, the government press center announced.
The start of the strategic project was announced today at an official ceremony at the Council of Ministers.
The contract was signed by the CEO of "Rheinmetall" Armin Paperger and the CEO of VMZ-Sopot Ivan Getsov. The ceremony was hosted by Prime Minister Rosen Zhelyazkov.
The investment of nearly 1 billion leva is among the most significant in Bulgaria in recent years. The project has been identified as key not only for the country, but also for the whole of Europe and NATO in the context of the changed geopolitical environment.
The new innovative plant will be implemented through a joint venture between "Rheinmetall" and VMZ-Sopot. It will focus on the production of 155-mm artillery shells and modular charging systems.
According to government information, the implementation of the project will ensure economic growth and create nearly 1,000 new highly qualified jobs.
With the construction of the plant, Bulgaria will restore a key element of its defense capacity and strengthen its positions in the European defense industry, dnes.bg recalled.
VMZ-Sopot will create a joint venture with “Rheinmetall“, with the ownership ratio being 49% to 51%. The planning of the joint venture and the conclusion of the agreement are currently being completed, Defense Minister Atanas Zapryanov explained in September. According to him, the construction of a gunpowder and projectile factory is a chance for the Bulgarian defense industry to implement production standards that allow VMZ-Sopot to become a supplier to NATO and EU member states.
On August 25, GERB leader Boyko Borisov held a meeting with the CEO of “Rheinmetall“ Armin Paperger at the concern's headquarters in Düsseldorf (Germany). It became clear at the meeting that Bulgaria and the largest defense concern in Europe “Rheinmetall” will build two new military plants on the territory of our country. One will be for the production of gunpowder and charges, and the other – for the production of 155 mm projectiles (long-range shots) according to the NATO standard.