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Wednesday, February 24, 2010

Collins subs top $7b list of dud projects

Collins class submarineMore than $7 billion worth of big defence projects are either over budget or behind schedule, with the woefully performing Collins Class submarines topping the list.

The Defence Materiel Minister, Greg Combet, revealed yesterday that there are about 10 items on the ''projects of concern'' list, which he instituted after the Rudd government took power.

It is believed that the total value of the projects is $7.5 billion. Defence forces say there are nine publicly known projects and a small number that cannot be disclosed for commercial or security reasons.

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