In a hearing at parliament, Portugal’s Defence Minister revealed more info on the nation’s plans to open a munitions factory.
Back in June 2024, Nuno Melo had already stated in parliament that plans for such a factory would be revealed very soon.
Now nearly 8 months later, its revealed that the Portuguese government plans to invest about 45 million euros, own 35-51% of the shareholdings, and have it operational after 3 years.
While it isn’t known what type of munitions the factory is set to make, it’s expected to create about 100 jobs, and under the business plan currently being designed, the hope is to recover the investment made within 5 to 10 years.
Source:
https://canal.parlamento.pt/?cid=8517&title=audicao-do-ministro-da-defesa-nacional