Guptas, Duduzane Zuma in line for Denel billions | Fin24
 
  • Cadre Cover

    The ANC is planning to launch a funeral policy scheme for members and supporters.

  • VBS Collapse

    Ramaphosa has acknowledged South Africans' impatience to see justice done.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Guptas, Duduzane Zuma in line for Denel billions

Aug 31 2014 12:30
City Press

Duduzane Zuma. (Photo: Werner Beukes, Sapa)

Related Articles

Gupta brother buys R68m in Comair shares

 

Johannesburg - Rajesh “Tony” Gupta and Duduzane Zuma stand to benefit from a multiyear infantry combat vehicle contract with Denel worth billions, which will kick off within the next two years.

The two hold a 25.1% stake in VR Laser Services through Craysure Investments, a company wholly owned by Westdawn Investments, according to the Mail & Guardian.

Company records show Gupta and Zuma are directors in Westdawn, and both Westdawn and Craysure share a registered office in Midrand, Gauteng.

On its website, VR Laser, tucked in a cul de sac in the Boksburg industrial area on the East Rand, boasts that it is involved in “the supply of steel components for the Armaments Corporation of South Africa’s project Hoefyster, which involves a total of 264 infantry combat vehicles for the SA National Defence Force”.

This army contract, which Public Enterprises Minister Lynne Brown described as a “R10bn investment by government in Denel through the department of defence” during Denel’s AGM earlier this month, is called Project Hoefyster.

- City Press.


denel  |  duduzane zuma
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
129 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote

Loading...