Gupta enterprise earned over R15 billion from Transnet contracts, Zondo told

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Shadow World Investigations on Monday said irregular contracts awarded by Transnet, including to the Gupta enterprise, are valued at a total R28 billion, more than half of the R49 billion of all state capture money flows.

Researcher Paul Edward Holden said the payments were for locomotives and crane contracts and consultancies.

The state capture commission heard that the Gupta enterprise made over R15 billion in kickbacks from these and other contracts awarded to and through their associates.

Shadow World Investigations said Transnet awarded irregular contracts to Gupta associates as well as China South Rail, China North Rail, ZPMC, and Liebherr.

Holden said: “All contracts were added together and get a VAT-inclusive sum of over R28 million.”

He said these and other contracts made the Guptas billions in kickbacks alone: “The total amount earned by the Gupta enterprise from state capture is over R15 billion.”

Holden said Gupta linked companies inflated prices to ensure maximum kickbacks.

-EWN

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The post Gupta enterprise earned over R15 billion from Transnet contracts, Zondo told appeared first on News365.co.za.

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