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Thursday, October 15, 2009

Cost of arms deal aircraft order rockets to R47bn

Airbus A400MArmscor is scheduled to hold talks with Defence and Military Veterans Minister Lindiwe Sisulu over the future of a much-delayed Airbus A400M military heavy-lifting aircraft order after it was divulged yesterday that their price had rocketed.

When the overrun is added to the original price, the value is expected to almost match the entire value of the strategic defence package, popularly known as the arms deal, to refit the navy and air force with corvettes, submarines, light utility helicopters, lead-in fighter trainers and advanced light fighter aircraft.

The arms deal was valued at $4.8 billion (about R30 billion in 1999 and R35bn at yesterday's exchange rate).

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