EU plans to boost ammunition production to aid Ukraine
The EU will put forward a plan to boost its production capacity of artillery shells to one million a year, officials said Tuesday, as it scrambles to arm Ukraine and refill its own stocks, AFP reports.
After decades of underinvestment, Europe’s defense industry is struggling to adapt to a surge in demand sparked by Russia’s war on its pro-Western neighbor.
The plan from the European Commission — to be unveiled Wednesday — proposes using 500 million euros ($550 million) from the EU budget to bolster ammunition production in the bloc.
“When it comes to defence, our industry must now switch to war economy mode,” said EU internal market commissioner Thierry Breton.
“I am confident that within 12 months we will be able to increase our production capacity to one million rounds per year in Europe.”
The EU cash would go towards financing new production lines for howitzer shells and missiles, stepping up gunpowder output, and refitting old ammunition.
Brussels says the money would provide around 50 percent of financing for selected projects, and member states would have to come up with the other half of the cash.
That would take the overall value of the plan to 1 billion euros.
