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Old 14th Oct 2009, 14:49
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svermeul
 
Join Date: May 2008
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The below taken from a South African newspaper.

"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."


In UK Pound terms 4.05 billion for 8 aircraft, or 506.5 million each.
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