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Italy plans to spend 8.2 billion euros on new tanks, sources say
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Italy plans to spend 8.2 billion euros on new tanks, sources say
Oct 29, 2024 10:39 AM

ROME, Oct 29 (Reuters) - An Italian parliamentary

committee approved on Tuesday a government plan worth some 8.2

billion euros ($8.86 billion) to buy new-generation tanks and

revamp the army's ground forces, two sources close to the matter

said.

The plan is part of a broader initiative by the government

of Giorgia Meloni to boost defence procurement as Europe and

NATO grapple with heightened geopolitical uncertainty.

According to a parliamentary document seen by Reuters, the

programme will run from 2025 to 2038. Some 5.4 billions have

already been earmarked, while arrangements to finance the

remaining 2.7 billion have yet to be established.

"The programme relates to the acquisition of heavy component

platforms with special reference to the new generation Main

Battle Tank (MBT)," the document said.

Italy's Leonardo and Germany's Rheinmetall

said in July that developing the Italian MBT would be

a priority for the joint venture they launched this month.

The parliamentary document makes no direct mention of the

two firms, but one of the sources said the joint venture - named

Leonardo Rheinmetall Military Vehicles or LRM - was expected to

be the project's key industrial partner.

The Panther KF51 designed by Rheinmetall will provide the

basis for the MBT to replace the Ariete tank, which was produced

in the 1990s. Last year, a ministry source told Reuters Italy

had some 200 Ariete tanks, of which only 50 were fully

operational.

($1 = 0.9255 euros)

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