The Ministry of Economics has presented a project for the construction of an artillery rocket factory in Latvia, which is called one of the largest in the country's defense industry. However, two weeks after the announcement, many key questions — from technologies to financing — remain unanswered.
At the end of July, the Ministry of Economics announced plans to build a full-cycle artillery rocket factory in Latvia, costing between 70 and 90 million euros. The project is expected to create 150 jobs, export products worth over 600 million euros in the first five years of operation, and generate about 68 million euros in taxes.
According to the announced plans, the enterprise will produce solid rocket fuel, equip warheads with explosives, assemble rockets, and conduct their testing. The project is expected to be implemented within two years. The Ministry of Economics and the Latvian Investment and Development Agency state that it is at a high stage of readiness.
However, as noted by the magazine Ir, there is currently very little public information about the project. Neither the model of the rockets to be produced nor the owner of the technology nor the company that will design the factory has been disclosed. A signed memorandum of understanding has also not been published.
The Ministry of Economics informed the publication that all information that can currently be made public has already been disclosed.
At the same time, Ir journalists pointed out one detail. The Ministry stated that the memorandum was signed on July 23 with a Latvian company founded by the American Native Trading. However, the Native Munitions Company was registered in the Latvian commercial register only on July 30 — a week after the document was signed.
The authorized capital of the new company is 20,000 euros. Its chairman is Latvenergo council member Roger Janis Grigulis. The board also includes American entrepreneur Nathan Boshon and Turkish citizens Mehmet Birdane and Cemalettin Ozdemir.
After examining the activities of companies associated with Boshon, Ir found no public confirmations that they had previously implemented projects for the construction of artillery ammunition production facilities. Only experience in importing weapons and producing individual components for firearms is known.
This does not mean that the project will not be implemented; however, there is currently no independent information available confirming the presence of the necessary technologies, experience, or already secured financing.
When asked about the competencies of the American partner, Roger Janis Grigulis did not provide specific details. According to him, such information in the defense industry is usually not published, as market participants do not publicize their achievements.
He also did not specify what portion of the announced investments of 70–90 million euros has already been legally or financially secured. According to him, funds are planned to be raised from the USA, but it remains unclear whether there are already commitments from investors or if it is still just intentions.
Ir journalists also failed to obtain comments from Nathan Boshon and the Turkish company Botek, which is mentioned in connection with the project.
Thus, despite the large economic promises, many key parameters of the project remain closed for now. More information is likely to emerge as the initiative transitions from memorandum to practical implementation.
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