MUNICH, February 18. /TASS/. The German defense corporation Rheinmetall plans to build a factory for the production of 155 mm artillery shells directly in Ukraine, the DPA news agency reported.

According to the news agency, the German company signed a memorandum of understanding to this effect with the Ukrainian side on the sidelines of the Munich Security Conference.

"We want to be an effective partner for Ukraine in rebuilding its once strong military-technical industry," the news agency quoted Rheinmetall CEO Armin Papperger as saying.

According to DPA, Ukraine’s Strategic Industries Minister Alexander Kamyshin attended the signing ceremony. The factory will be operated by a joint venture and is expected to produce a "six-digit number" of shells per year.