Business news from Ukraine

POROSHENKO SUGGESTS BUILDING AMMUNITION PLANT UNDER NATO STANDARDS IN UKRAINE

11 July , 2017  

KYIV. July 11 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko put forward an initiative to build a state-of-the-art ammunition plant in accordance with the NATO standards in the country at a meeting of the Ukrainian National Security and Defense Council.
“I would like to give several examples of directions, where the means provided by the Defense Ministry will be used. The first one: I suggested building an ammunition plant using the state-of-the-art technologies in full conformity with the NATO standards that would ensure mutual compatibility of the produced armaments of the main calibers,” Poroshenko said on Monday.
A total of UAH 1.4 billion are planned to be allocated for the implementation of this initiative, the Ukrainian president said. It would provide an opportunity to ensure production of weapons in Ukraine from the domestic materials, he said.
Poroshenko pointed out the priority of this direction due to the need of restoring the lost production infrastructure, which had happened following the occupation of certain areas of Donetsk and Luhansk regions.