The German company "Rheinmetall" announced in a statement on Saturday the establishment of a joint project with the Ukrainian state-owned group "Ukroboronprom" to build and repair tanks in Ukraine. The statement indicated that the project will initially focus on the maintenance and repair of vehicles that Germany transferred to Ukraine but will later aim to jointly produce some products of Rheinmetall in Ukraine, potentially leading to the joint development of military systems exported from Ukraine.
Rheinmetall's CEO, Armin Papperger, revealed the project's plans to the German newspaper "Handelsblatt" on Friday, stating that the company would own 51 percent and take on management duties. The newspaper reported that Rheinmetall expects to sign contracts for two other joint projects related to ammunition and air defense in the coming days. The establishment agreement for the joint venture is set to be finalized by late June, with operations expected to commence by mid-July.
