Search This Blog

Tuesday, January 20, 2015

Beijing ‘never paid’ for aircraft carrier, report says

Liaoning CV16The Chinese businessman who bought an unfinished Soviet-era vessel that became his country’s first aircraft carrier was never paid back the $120 million it cost him by Beijing, he was quoted as saying Tuesday.

Entrepreneur Xu Zengping paid Ukraine a $20 million fee for the Varyag, which was eventually commissioned into the People’s Liberation Army (PLA) Navy as the Liaoning, but the price ballooned once towing it to China — a process that was delayed for years — and other costs were included.

A former PLA basketball player, he was chosen to negotiate the acquisition, posing as a businessman who wanted to use it for a floating casino in Macau, and then giving it to the authorities.

Read more
om

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.