An Italian parliamentary committee approved a major government plan on Tuesday, October 29, to buy new-generation tanks and update the army's ground.
As per Reuters, this plan is worth approximately 8.2 billion euros ($8.86 billion).
The main purpose of this plan by the government of Giorgia Meloni is to boost their defence system to deal with the challenges.
This program is set to run from 2025 to 2038. While, some 5.4 billions have already been given, the remaining amount has yet to be given.
The document said, "The programme relates to the acquisition of heavy component platforms with special reference to the new generation Main Battle Tank (MBT).”
The two firms were not mentioned directly in the parliamentary document, but a source said the joint venture - called Leonardo Rheinmetall Military Vehicles or LRM - would be a key industrial partner for the project.
Italy's Leonardo and Germany's Rheinmetall stated in July, that creating the Italian MBT would be a key focus of the joint venture they launched this month.
Earlier, a ministry revealed that Italy had currently 200 Ariete tanks, of which 50 were fully operational.
