SA Gripen hits Swedish skies on maiden flight
Published: Thu Jan 19th, 2006Source: www.engineeringnews.co.za
Saab and BAE Systems acquired a joint direct industrial participation (DIP) obligation arising from South Africa’s combined procurement of 28 Gripen fighters and 24 Hawk lead-in fighter trainers from the two companies.The aircraft purchase is worth $2,2-billion, but attracts a combined $8,7-billion DIP and national industrial participation obligation which sees BAE Systems and Saab delivering $1,5-billion and $7,2-billion respectively of new economic benefits to South Africa through its aerospace/defence and broader civil industrial sectors.
These targets are being met through a combination of investments; 30% of the target into manu-facturing-for-export ventures, and the remaining 70% being put into sales, skills development and technology transfer.
BAE Systems and Saab have until April 2011 to fulfil the entire obligation.
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