Latest news with #armsprocurement
Al Arabiya
03-07-2025
- Automotive
- Al Arabiya
Poland completes negotiations to buy South Korean K2 tanks: Reports
Poland has completed negotiations with South Korea's Hyundai Rotem to receive a second batch of K2 tanks and plans to sign a contract, South Korea's defense procurement agency said on Wednesday. The specific size of the contract will be disclosed later, South Korea's Defense Acquisition Program Administration said in a statement. On Thursday, Hyundai Rotem said in a regulatory filing the Polish arms procurement agency has confirmed the contract was worth $6.5 billion. It said further details of the deal would be announced in a later filing. The Yonhap News Agency has said the deal was to supply 180 tanks. In 2022, Poland and Hyundai Rotem agreed to a supply deal for the first batch, or 180 K2 tanks. While the first contract focused on Korean-made vehicles that could be quickly supplied as Poland moved swiftly to boost its military amid Russia's war in neighboring Ukraine, the second batch is expected to grant the Korean arms maker a more permanent foothold in Europe. DAPA said a production facility in Poland would be established, with a large number of K2 tanks to be assembled locally through cooperation between Hyundai Rotem and Polish defense companies.
Reuters
03-07-2025
- Automotive
- Reuters
Poland completes negotiations to buy South Korean K2 tanks, agency says
SEOUL, July 3 (Reuters) - Poland has completed negotiations with South Korea's Hyundai Rotem ( opens new tab to receive a second batch of K2 tanks and plans to sign a contract, South Korea's defence procurement agency said on Wednesday. The specific size of the contract will be disclosed later, South Korea's Defense Acquisition Program Administration said in a statement. On Thursday, Hyundai Rotem said in a regulatory filing the Polish arms procurement agency has confirmed the contract was worth $6.5 billion. It said further details of the deal would be announced in a later filing. The Yonhap News Agency has said the deal was to supply 180 tanks. In 2022, Poland and Hyundai Rotem agreed a supply deal for the first batch, or 180 K2 tanks. While the first contract focused on Korean-made vehicles that could be quickly supplied as Poland moved swiftly to boost its military amid Russia's war in neighbouring Ukraine, the second batch is expected to grant the Korean arms maker a more permanent foothold in Europe. DAPA said a production facility in Poland would be established, with a large number of K2 tanks to be assembled locally through cooperation between Hyundai Rotem and Polish defence companies.
Reuters
25-06-2025
- Business
- Reuters
Switzerland to explore defence procurement pact with EU
BERLIN, June 25 - Switzerland will enter into exploratory talks with the European Union on a non-binding partnership to take part in arms procurement projects, the government said on Wednesday, as the neutral alpine nation seeks closer EU security ties. Such partnerships are a prerequisite for non-EU countries to become involved with the bloc's cooperation projects, said the government, adding that the move was compatible with neutrality and would help strengthen its defence capabilities. "Switzerland has an interest in greater cooperation with the EU, particularly in relation to armaments," it said, adding that the talks should be launched as soon as possible. A partnership would allow Switzerland to negotiate better conditions for its industry's participation in EU defence procurement projects, it said. "To date, the EU has concluded such partnerships with a number of countries, and further partnerships are in the pipeline," added the government. Companies from countries that have signed such a pact with the EU are eligible to apply for the bloc's 150-billion-euro ($173.99 billion) arms fund, if they meet further conditions. The Swiss government on Wednesday also approved a draft cooperation agreement, opens new tab with Ukraine on the reconstruction of the besieged country that would establish a legal basis for the Swiss private sector to become more closely involved. ($1 = 0.8621 euros)
LBCI
24-06-2025
- Politics
- LBCI
Zelensky-Trump meeting planned Wednesday: Ukraine presidency
Volodymyr Zelensky and U.S. President Donald Trump are planning to meet Wednesday on the sidelines of the NATO summit in The Hague, a senior source in the Ukrainian presidency told AFP. "The teams are finalizing the details," the source told AFP, adding that the talks were scheduled for the "early afternoon" in the Netherlands and would focus on sanctions against Russia and arms procurement for Kyiv.
Arab News
24-06-2025
- Politics
- Arab News
Zelensky-Trump meeting planned Wednesday: Ukraine presidency
KYIV: Volodymyr Zelensky and US President Donald Trump are planning to meet Wednesday on the sidelines of the NATO summit in The Hague, a senior source in the Ukrainian presidency told AFP. 'The teams are finalizing the details,' the source told AFP, adding that the talks were scheduled for the 'early afternoon' in the Netherlands and would focus on sanctions against Russia and arms procurement for Kyiv.
