R47bn price tag for aircraft |
Publication |
Cape Argus |
Date | 2009-10-14 |
Reporter | Christelle Terreblanche |
Web Link |
Armscor has admitted in Parliament today that the price-tag for
acquiring eight A400m military heavy-lifting aircrafts has skyrocketed to
R47-billion.
Armscor CEO Sipho Thomo told MPs that the initial estimated price was
R17-billion, even though it is believed that the amount was as low as
R7,5-billion.
Thomo said they had already paid R2,9-billion, and has admitted to withholding
R1,1-billion because the aircraft would be delivered in 2016. This is pending
the decision of cabinet this month whether to continue with the acquisition.
With acknowledgements to
Christelle Terreblanche and Cape Argus.