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Investing.com -- The Polish Armaments Group (PGZ) will receive 2.4 billion zlotys ($664.80 million) in state financing to build three ammunition factories, the state assets ministry announced Wednesday.
Four PGZ companies will benefit from this funding, which will support the production of 155 mm artillery shells. Demand for these shells has increased significantly since Russia’s invasion of Ukraine, while European stockpiles have decreased due to supplies sent to Kyiv.
PGZ aims to increase its annual production capacity to 150,000 shells within two to three years. PGZ head Adam Leszkiewicz stated on Wednesday, "From 150,000 shells upwards from 2028, or from the end of 2027. This is our goal."
The group has described its current production capacity as "insufficient" without providing specific figures.
State Assets Minister Jakub Jaworowski emphasized the strategic importance of the initiative, saying, "Our goal is to scale up as soon as possible domestic production of this kind of ammunition which is key on the modern battlefield."
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