DCNS/TKMS face off in Singapore
The German and French shipbuilders are squaring up over a $1.8 billion contract to supply three state-of-the-art submarines to Singapore. [...]
DCNS is France’s leading naval shipyard. The company builds both surface vessels and submarines for the French Navy. It also exports, recently landing contracts in India, Brazil and Australia.
Fadel Al Kaabi, formerly of the Tawazun sovereign fund, set up the International Golden Group (IGG) in 2002. The company, which is headed by Fadel's uncle, former armed forces deputy chief of staff Mohammed Hilal Al Kaabi, specialises in partnerships with Western defence groups like France's Thales, Britain's BAE, Paramount of South Africa and Italy's Selex. In 2013, IGG also went into partnership [...]
Iskandar Safa, who earned his nickname of Sandy during his youth as part of the Lebanese Christian militia, is an export agent who switched successfully to industry but who, in 2013, is still active as a business intermediary. As an industrialist, he reigns over a veritable shipbuilding empire which produces yachts and patrol boats. He has owned Constructions Mécaniques de Normandie (CMN) in Cherb [...]