08 Dec '11, 10am

Mindef to spend $29.6 billion on equipment: IHS Jane's

Mindef to spend $29.6 billion on equipment: IHS Jane's

Mindef is likely to spend US$23 billion (S$29.6 billion) on purchases of patrol aircraft, helicopters and other military equipment by 2015, according to a report by IHS Jane's.-- ST PHOTO: BRYAN VAN DER BEEK Singapore's Ministry of Defence is likely to spend US$23 billion (S$29.6 billion) on purchases of patrol aircraft, helicopters and other military equipment by 2015, according to a new report by IHS Jane's. Mr Nicholas de Larrinaga, emerging markets analyst at IHS Jane's, said that Singapore's defence budget was seen rising by more than 50 per cent between 2010 and 2015 to more than US$14 billion. Singapore allocated US$9.39 billion for defence in its budget for the fiscal year beginning April 2011, a rise of 5.4 per cent from 2010/11. IHS Jane's said Singapore was an attractive choice for Western defence firms because of its relative transparency and its commitment to ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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