SEOUL: South Korean defence agency Hanwha Aerospace stated on Monday (Feb 2) that it had received a US$922 million contract to provide long-range artillery programs and rockets to Norway.
Norway’s defence ministry stated final week the nation will purchase 16 Chunmoo launch programs and an undisclosed variety of rockets for a complete value of 19 billion Norwegian crowns (US$2 billion).
Hanwha stated that whereas Norway’s finances for the complete venture is US$2 billion, Hanwha is offering the Chunmoo launch programs and rockets for about US$922 million, with the rest anticipated to enter organising native operations for the system, equivalent to upkeep services and coaching.
Seoul-based analysts stated that regardless of latest political stress for European international locations to purchase European arms, Hanwha Aerospace can ship each the launchers and the rockets in a a lot shorter timeframe than rivals and with higher flexibility to fulfill operational wants, together with for Norway’s arctic circumstances.
“Chunmoo’s European exports will improve. It’s estimated that it’s going to take greater than 20 years for Europe to develop a brand new a number of launch rocket system,” stated Jang Nam-hyun, an analyst at Korea Funding & Securities.
“Hanwha Aerospace will construct a manufacturing facility in Poland for guided rockets and start supply in 2030. The steady provide of guided rockets inside Europe, along with (Hanwha’s) already-proven energy of quick supply, will function a comparative benefit.”
International locations which have purchased the Chunmoo rocket artillery system embody Poland, Estonia and Center Jap international locations.
Norway already operates K9 self-propelled howitzers made by Hanwha.
