German arms manufacturer Rheinmetall is planning to build a new plant for the production of artillery ammunition in Ukraine.
The company and a Ukrainian partner company signed a declaration of intent on the sidelines of the 60th Munich Security Conference, the company announced on Saturday.
"We want to be an effective partner for Ukraine in rebuilding the once strong defence industry in Ukraine and ensuring the autonomy of Ukrainian capacities," Rheinmetall's chief executive Armin Papperger said in explaining the decision.
Ukrainian Minister for Strategic Industries Oleksandr Kamyshin was present at the signing ceremony.
The joint venture is to produce a six-figure number of bullets per year in the factory of the two partners.
In October, the German defence company founded its first joint venture with a Ukrainian partner to maintain and repair tanks in Ukraine. According to Rheinmetall, armoured vehicles are also to be produced there at a later date.
