Portugal to revive small-calibre ammunition production with FN Herstal joint venture
idD Portugal Defence and FN Herstal signed a deal to build a small-calibre ammunition factory in a joint venture requiring €50 million investment and becoming operational in 2029, with Portugal expecting a minority stake of about 35%. The project is under the EU SAFE programme.
LISBON, Sept 29 (Reuters) — Portugal's state-owned company idD Portugal Defence and Belgian firearms maker FN Herstal signed a deal on Tuesday to build a small-calibre ammunition factory, restoring Portuguese ammunition production after nearly three decades, Defence Minister Nuno Melo said. 9 billion and 75 tactical vehicles for the Marine Corps worth €133 million The factory "will bring back to the country a fundamental capability that we should never have lost", Melo said FN Herstal is part of the FN Browning Group, which already has a manufacturing facility in Viana do Castelo in northern Portugal that produces hunting and sporting firearms.
8816 euros) (Reporting by Sergio Goncalves. net/)