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Industry

Italian Cabinet releases funds for defence procurement

17 June 2019
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Italy's Ministry of Economic Development, alongside the Ministry of Defence, agreed on 13 June to allocate more than EUR7.2 billion (US8.1 billion) toward long-term defence procurement. The funds should allow the armed forces to continue long-delayed modernisation efforts.

Among the investments announced, two were marked for Iveco-Oto Melara Consortium (CIO), which produces the VBM Freccia 8×8 infantry combat vehicle and the Centauro II 8×8 tank destroyer. Other projects mentioned were the M-345 High Efficiency Trainer (HET), the HH-101 Caesar (AW101) combat search and rescue helicopter, the NH-90 multi-role helicopter, the B1NT air defence project, and the U212 submarines. Funding details for all individual programmes were not immediately released.

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