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Saturday, March 26, 2011

2.5 billion euro submarine deal lacks vital details

U 214 ClassA planned deal over the purchase of six submarines from a German company is lacking important details, including the price and the technical features of the submarines, the Bugün daily reported yesterday.

All eyes have turned to projects in the defense industry following a recent crisis involving over 100 F-35 fighter jets from the US, which refuses to share source code technology. Turkey has put a hold on the planned purchase of the jets due to this development.

The most defense agreement to garner the most attention is a submarine deal to be signed with a German company for the purchase of six U214 submarines. The daily reported that Turkey’s Undersecretariat of the Treasury had initially objected to the deal over the planned purchase of the submarines from German TyssenKrupp AG’s HDW company due to a high interest rate on payments, but was later persuaded.

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