ELTA learnt this from EPSO-G spokesman Gediminas Petrauskas on Monday. He also said that the commitments of the parties agreed earlier remain unchanged.
Lithuania will own 49% of shares in the joint venture, while Rheinmetall will control the remaining 51% of shares.
Earlier it was announced that EPSO-G and Giraitės ginkluotės gamykla, producer of ammunition managed by Lithuania’s Ministry of Finance, would own 48% and 1% of shares respectively.
The contract was signed on 20 December.
In June 2024, the Ministry of the Economy and Innovation signed an agreement with Rheinmetall on the construction of artillery shell production plant in Baisogala, northern Lithuania.
In November, agreements were signed on land rental and acquisition of 155 mm artillery shells.
The Rheinmetall plant in Lithuania is expected to become operational in mid-2026. It will employ 150 people producing tens of thousands of artillery shells per year. The total investment in the project is estimated to stand at EUR 200 million.