Breaking News
Investing Pro 0
💎 Access the Market Tools Trusted by Thousands of Investors Get Started

Czech government approves purchase of 246 armoured combat vehicles

Published May 24, 2023 19:38
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: CV90 combat vehicles seen during the Aurora 23 military exercise at Rinkaby firing range outside Kristianstad, Sweden May 06, 2023. TT News Agency/Johan Nilsson via REUTERS
 
BAES
-1.80%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

PRAGUE (Reuters) - The Czech government on Wednesday approved a plan to buy 246 infantry fighting vehicles for the country's army, Prime Minister Petr Fiala said.

The CV90 armoured tracked vehicles, which are made by a Swedish unit of Britain's BAE Systems (LON:BAES), will cost 59.7 billion crowns (2.52 billion euros) and be delivered from 2026 until 2030, Defence Minister Jana Cernochova told reporters.

The long-awaited order was announced as the NATO country accelerates increases in defence spending in the wake of Russia's invasion of Ukraine, with a goal of reaching the alliance's minimum of 2% of GDP from next year.

The vehicles will be used to equip an armoured brigade the Czechs have pledged to build up by 2026 as part of the country's NATO commitments.

It includes at least 40% participation by Czech industry, Cernochova said.

The country will also start talks on joining the German government in buying Leopard 2A8 tanks from German arms manufacturer KMW, Cernochova said.

The Czech army may buy around 70 tanks with delivery by 2030, the Defense Ministry said in a statement.

A joint order with Germany and possibly other countries could lead KMW to raise capacity, cut the unit price and speed up delivery, the ministry said.

The German government welcomed the move. "The Czech Republic's entry into a German contract is a big step," German Defence Minister Boris Pistorius said in a statement. 

Earlier, Germany's parliamentary budget committee approved the purchase of 18 Leopard 2 tanks and 12 self-propelled howitzers to replenish stocks depleted by supplies to Ukraine.

Czech government approves purchase of 246 armoured combat vehicles
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Graham Kinnear
Graham Kinnear May 24, 2023 23:04
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The UK should have spent money purchasing the well proven cv90 instead of the dud its spent 5 billion on. The AJAX
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email