On 13 December 2024, UAB Valstybės Investicinis Kapitalas made a strategic decision to invest up to EUR 71.05 million in Rheinmetall Defence Lietuva – a new artillery ammunition factory that will produce 155-mm artillery shells for the armed forces of Lithuania and other NATO countries.
This investment is being carried out through EPSO-G Invest, a joint venture established by UAB Valstybės Investicinis Kapitalas in partnership with UAB EPSO-G. The initiative also involves the German defence industry leader Rheinmetall AG and the Lithuanian ammunition manufacturer AB Giraitės Ginkluotės Gamykla, forming a unique international partnership.
This is the largest joint Lithuanian-German defence sector investment to date.
This project is expected to become a catalyst for further foreign investment in the Lithuanian defence industry and significantly contribute to strengthening regional security.
Financing structure for the defence industry project
Key facts about the Rheinmetall Defence Lietuva project
| Indicator | Data |
| Total project value | EUR 260-300 million |
| Construction duration | ~2 years (start: 2024, expected launch of operations: 2026) |
| UAB VIK investment amount | EUR 71.05 million |
| Capital contributions |
Dec-2024: EUR 0.5 million Feb-2025: EUR 18 million Sep-2025: EUR 17.9 million |
| VIK shares in EPSO-G Invest | 49 % |
| End use | Up to 50% will be exported to other NATO countries, with the rest going to the Lithuanian armed forces |
| Projected annual return | From 1.4% to 34.5%, depending on raw materials, orders and costs |
| Exit strategy | After 6 years – sale of shares to AB Giraitės Ginkluotės Gamykla at market price |