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Italy approves EUR 8.2 billion investment in new tanks and army upgrades, Reuters reports

Source link : https://love-europe.com/2024/10/30/italy/italy-approves-eur-8-2-billion-investment-in-new-tanks-and-army-upgrades-reuters-reports/

Italy’s parliamentary committee has given the green light to a substantial defence initiative, approving an EUR 8.2 billion plan to acquire new-generation tanks and modernise its army’s ground forces. The project, part of Prime Minister Giorgia Meloni’s strategy to strengthen Italy’s defence capabilities, is expected to proceed from 2025 to 2038, sources familiar with the matter told Reuters.

 

According to a parliamentary document reviewed by Reuters, the programme includes funding arrangements to support a phased approach to Italy’s military upgrade.

So far, EUR 5.4 billion has been allocated, while the remaining EUR 2.7 billion will be determined through future funding measures. The initiative underscores Italy’s response to increased geopolitical tensions impacting Europe and NATO, highlighting the nation’s commitment to its own and regional security.

 

 

The programme is aimed at introducing a new Main Battle Tank, referred to as a “heavy component platform” in the parliamentary document. Although the document does not specify companies involved, sources indicate that Leonardo and Germany’s Rheinmetall, who recently launched a joint venture named Leonardo Rheinmetall Military Vehicles (LRMV), are anticipated to play leading roles in the project.

 

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Industry insiders expect that Rheinmetall’s Panther KF51 will serve as the basis for Italy’s new MBT, slated to replace the ageing Ariete tanks, originally produced in the 1990s. Italy currently operates around 200 Ariete tanks, though only 50 are fully operational.

 

Source: Reuters.

 

Source link : https://defence-industry.eu/italy-approves-eur-8-2-billion-investment-in-new-tanks-and-army-upgrades-reuters-reports/

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Publish date : 2024-10-29 20:47:00

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The post Italy approves EUR 8.2 billion investment in new tanks and army upgrades, Reuters reports first appeared on Love Europe.

Author : love-europe

Publish date : 2024-10-30 07:48:23

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