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  • 4 months ago
Rheinmetall sinks as Germany axes mega-warship project after spending €2.3bn

Rheinmetall shares fell sharply after Berlin scrapped its F126 frigate programme, a project that has already cost taxpayers around €2.3bn.

READ MORE : http://www.euronews.com/2026/06/24/2-billion-down-the-drain-german-defence-minister-cancels-worlds-largest-frigate

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00:02Germany's Defence Minister Boris Pistorius now wants smaller ships for the German Navy,
00:07rather than the planned world's largest frigate.
00:10Local media reported that more than 2 billion euros have already been sunk into the project.
00:16In place of six F-126 class frigates, which were scheduled for delivery in 2029,
00:23eight smaller ships will now be ordered.
00:26The reason for the downsize are significant delays at the Dutch shipyard tasked with building them,
00:32as well as expected cost increases.
00:35The decision marks a significant setback for Europe's biggest economy,
00:39especially as Germany has been accelerating its efforts to build up its armed forces
00:44in an attempt to bolster its role in NATO and deter Russian aggression.

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