South Korea's Hanwha Aerospace has unveiled plans to invest $2.2 billion over the next seven years to build a new ammunition production center at the U.S. Army's Pine Bluff Arsenal in Arkansas, according to a company statement.

The facility will be constructed by the firm's subsidiary, Hanwha Defense USA, and will focus on manufacturing 155mm artillery shell components and propellants. The production center is designed to feature an integrated manufacturing system covering the entire process from raw materials to finished products.

In addition, the company intends to leverage both this Arkansas-based munitions hub and its wheeled K9 self-propelled howitzer prototype facility in Alabama to further expand its defense business operations across the United States.