Norway to Boost Artillery Ammunition Production with $94 Million Investment in Nammo

Norway's government will invest 1 billion crowns ($94 million) in defence firm Nammo to expand artillery ammunition production. This move, announced during a NATO summit in Washington, aims to enhance the defence industry’s capacity. Nammo is set to increase production tenfold and maintain it for 15 years.

Norway's government has announced a substantial investment of 1 billion crowns ($94 million) in its defence sector, specifically targeting the production capabilities of Nammo, a leading ammunition producer.

The decision was revealed as NATO member states convened for their annual summit in Washington. The Norwegian government highlighted that the funds would enable Nammo to establish a new production line that will significantly boost output of modern artillery shells by ten times.

With the growing need to support Ukraine and bolster NATO's defence resources, this investment will also ensure Nammo maintains heightened production levels for at least 15 years. Nammo is co-owned by the Norwegian government and Finnish defence company Patria.

(With inputs from agencies.)