General
Submarine equipment contract failure costs millions in compensation, rescuers left with old gear
The Defence Department will tear up a contract with an American company for crucial submarine search and rescue equipment, in a move expected to cost the Commonwealth tens of millions of dollars in compensation.
Key points:
- A contract for new submarine rescue equipment has been scrapped
- The decision is expected to cost tens of millions of dollars
- Older equipment will now be relied upon for search and rescue for several more years, but even that has had its problems
Last year, the ABC revealed a bitter stand-off between Phoenix International (Australia) and Defence over a deal to provide a “Submarine Escape Rescue and Abandonment System” by 2022.
The ABC can now reveal a recent review of the troubled contract has recommended it be scrapped,…
Continue Reading
-
Business19 hours agoWhy did this ASX 200 healthcare stock crash 14% yesterday?
-
Business18 hours agoHere’s what analysts expect for the BHP share price in the coming year
-
General10 hours agoVictorian school teacher charged with soliciting child abuse material
-
Business21 hours agoOwn Xero shares? Here are 3 key takeaways from its AGM