Home Business News NATO signs contract to buy $1.2 billion worth ammunition to replenish stocks

NATO signs contract to buy $1.2 billion worth ammunition to replenish stocks

by LLB political Reporter
23rd Jan 24 3:32 pm

NATO has signed a $1.2 billion contract to purchase 155mm ammunition on Tuesday at the headquarters.

In the presence of NATO Secretary General Jens Stoltenberg by Stacy Cummings, the General Manager of the NATO Support and Procurement Agency (NSPA) the contract was signed.

Stoltenberg said, “We have just concluded contracts worth $1.2 billion to buy hundreds of thousands of rounds of 155-millimetre artillery ammunition.

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“This demonstrates that NATO’s tried and tested structure (NSPA) for joint procurement is delivering. Russia’s war in Ukraine has become a battle for ammunition so it is important that Allies refill their own stocks, as we continue to support Ukraine.”

Stoltenberg said that the allies have already increased the production of ammunition to replenish their stocks.

Stoltenberg said, “So this is an ongoing process almost daily, at least weekly, Allies are delivering weapons and ammunition to Ukraine.

“To increase production in the future, of course, enables us to continue to do so and that’s why these contracts are so important.”

Cummings said, “the expected delivery time for orders placed today are within 24 to 36 months.”

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