Bulgaria is pursuing a deeper strategic relationship with Rheinmetall that extends beyond joint ventures, with President Rumen Radev underscoring ambitions for new technologies, defense modernization and expanded market access.
The push comes as Rheinmetall moves forward on plans to build two production facilities in Bulgaria for gunpowder and 155 mm artillery shells under joint ventures worth more than $1 billion, agreements expected to be finalized within the next three weeks, Reuters reported.
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In a statement, Rheinmetall CEO Armin Papperger said he and Radev discussed fast-tracking the planned JVs, adding, “I would like to thank the President most sincerely for his support.”
Radev said Rheinmetall’s investments would make Bulgaria part of the European defense ecosystem. He also pointed to opportunities for collaboration on autonomous systems and motor transport equipment, noting that the Bulgarian Army’s vehicle fleet needs complete renovation.