Norway orders artillery shells worth more than 87 million euros

The Norwegian government has signed a contract with the arms company Nammo for the purchase of artillery shells worth more than NOK 1 billion (EUR 87.1 million).

This was reported by NTB.

The contract was signed in the United States by Norwegian Defense Minister Bjørn Arild Gram and Nammo CEO Morten Brandzegh.

The financing will allow the arms company to invest in a new production line, which will allow Nammo to produce "ten times more" artillery shells for the defense sector. The exact number is not disclosed for security reasons.

According to Nammo's CEO, the new production line will take from one and a half to two years to set up, but much of the work has already been done. The company will also be able to double its production capacity for other artillery ammunition and rocket engines.

Brandzegh emphasized that the Norwegian government's investment is primarily aimed at replenishing Norway's stockpile of shells, which Ukraine desperately needs. At the same time, Nammo also has a number of contracts with other countries.

Nammo (Nordic Ammunition Company) is a joint Norwegian-Finnish company specializing in the production of ammunition. The company's shares are equally owned by the Norwegian Ministry of Trade and Industry and the Finnish defense corporation Patria.

Author - Olena Madiak, 09/07/2024