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October 23, 2008
Denel firm costs taxpayer R660m
The government has had to pay R660m to enable a loss-making Denel subsidiary to honour its international contract obligations, including those related to the supply of equipment for purchases made under the R47,5bn arms deal.
Alarmed MPs learnt yesterday that, in addition, the state has to carry a further contingent liability of R940m on its books in terms of the R1,6bn indemnity issued for the company's contracts.
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Posted by StaffWriter at October 23, 2008 7:17 AM