Eskom global contracts under investigation

[Bradley Prior]

Eskom global contracts under investigation

Eskom Holdings SOC Ltd. contracts with five international companies will be scrutinized by South African state investigators as part of a widening probe into graft at the debt-laden state-owned utility.

The probe will review agreements with North American engineering services firms WSP Global Inc. and Black & Veatch Corp., as well as agreements with Alstom SA of France, Switzerland’s ABB Ltd. and Italian firm Teneo SpA, Eskom said. [Bloomberg]

 

[samrai.jck]

Some of those are not like the others. A 900m contract that goes to 1,8b if the time doubles is not strange. Contractually the Time Related P and G's will continue.

BUT - a 100m contract that becomes 10b. Now that is a steal!

I wish the article just had a simple table stating the start and current status of the contracts and the percentage increase thus far.

 

[RonSwanson]

I am not sure why they even bother with these audits, there aren't any consequences and no-one goes to jail. Throwing good money after bad.