Rheinmetall AG CEO Armin Papperger said on Monday that Rheinmetall Victoria SA will be the most modern company in the world for the production of double- and triple-base propellants.During a press conference held alongside Romanian Prime Minister Ilie Bolojan at Victoria Governmental Palace, Armin Papperger welcomed the signing of the cooperation agreement that lays the foundation for the investment.'Rheinmetall Victoria SA will be the most modern company in the world, at the moment, for the production of double- and triple-base propellants. These propellants are needed worldwide, especially in Europe, to support defence forces, and they are also needed in Romania. We are building capacities of around 60,000 charges, meaning 300,000 modular charges, which represents one of the largest capacities in the world for artillery systems,' said Armin Papperger.He mentioned that 200 tonnes of propellant will be produced for local needs. The future plant represents an investment of approximately half a billion euro.'Rheinmetall and its partners will invest more than 400 million euro through their companies. On the civil side, Romania will make investments of 120 million euro. We are receiving support through European programmes: 47 million euro from a programme approved in Brussels, and the Government will also receive funds through the SAFE Programme. The strategy is to make Romania an integral part of the European ecosystem. Romania will also be an integral part of the NATO ecosystem,' he added. (Photo:https://gov.ro/)
Romania has reached a purchasing power per capita of EUR 11,105, approximately 45% below the European average – a figure that places the country in 31st place in the European top, according to the "NIQ Purchasing Power Europe 2025" study. Compared to 2024, Romania moved up one position in the NIQ ranking. Comparatively, at a […]
Ionuț Costea, former head of EximBank, and Sebastian Vlădescu, former finance minister, were released on November 5 following an extraordinary prescription procedure, according to a statement from Romania's High Court of Cassation and Justice (ICCJ). The two had been sentenced in 2023 to six and seven years in prison, respectively, for taking a EUR 5.5 […]
Prime minister Ilie Bolojan, who also serves as president of the Liberal Party (PNL), stated on November 4 that, at the meeting of the party's National Political Bureau the same day, support was renewed for resolving the issue related to special (magistrates') pensions this month, but also for the reform in public administration, according to
Knauf Insulation Romania, the local subsidiary of a division of the German group Knauf, has officially inaugurated its new glass mineral wool factory in Târnăveni, Mureș County, after an investment of EUR 140 million, for which the company also received EUR 18 million in state aid. "Our factory in Târnăveni, equipped with state-of-the-art technology, has […]
Corden BioChem, an expert in industrial biotechnology, could resume production at the bioethanol factory it took over from Swiss Clariant in southern Romania (or "Lesser Wallachia" as indicated by the company) at Podari, after the Competition Council authorised the takeover of the steam and electricity supplier. The company announced on its website that the Podari […]
Romania’s general government budget deficit can drop below 6.5% of GDP next year, possibly approaching 6% of GDP, to further drop below 5% of GDP if the tax evasion and tax avoidance are addressed, the head of the Fiscal Council, Daniel Daianu, said, speaking in a conference organised by Curs de Guvernare, as reported by […]
