BEIJING: The Chinese businessman who bought an unfinished Soviet-era vessel that became his country’s first aircraft carrier was quoted yesterday as saying that Beijing never repaid the US$120 million it cost him.
Entrepreneur Xu Zengping paid Ukraine a US$20 million fee for the Varyag, which was eventually commissioned into the People’s Liberation Army (PLA) Navy as the Liaoning. But the price ballooned once towing it to China — a process that was delayed for years — and other costs were included.
Xu also revealed that the ship was still fitted with its original engines at the time it was transported to China, …read more
Source: The Borneo Post
