LONDON -- British defense company BAE Systems PLC says it is ready to pay 29.5 million pounds (approx. 76.4 billion shillings) to the government of Tanzania to close a long-running dispute over the sale of a radar and traffic control system.
A parliamentary committee on Friday released a letter from BAE chairman Dick Oliver saying that the company was ready to pay Tanzania as soon as the payment is cleared by Britain's Department for International Development.
Last year, BAE pleaded guilty to failing to keep proper records of payments to a former adviser in Tanzania.
The company had proposed paying compensation to the Department for International Development, which would then use it for projects in Tanzania, but the department said the money should go directly to the Tanzanian government.
More: http://www.guardian.co.uk/global-development/2011/sep/09/bae-payment-tanzania-fine-agreed
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