Featured Ads
$150m Inflated Ameri Deal: I Did No Wrong – Jinapor
Source : Themarketghana.com    Date : Monday 27 Mar, 2017 | 16:21 GMT
Former Deputy Power Minister John Jinapor
Former Deputy Power Minister John Jinapor has said he did no wrong as far as the $150million overpricing of the $510million Ameri power deal is concerned.

The deal was signed between the government of John Mahama and the Africa and Middle East Resources Investment Group (AMERI Energy) on 10 February 2015.

A 17-member committee chaired by Mr Philip Addison which was tasked by Energy Minister Boakye Agyarko to study the deal recently exposed that the deal was inflated by $150million by the Mahama administration.

The deal was for the supply of gas turbines to Ghana, which were to provide additional power to the national grid to ease the biting load shedding exercise that plagued the country at the time.

Investigations by Norwegian newspaper VG exposed that the Government of Ghana could have owned the 225-MW turbines at a cost of $220 million instead of the $510 million Build Operate Own and Transfer (BOOT) deal.

A statement by Ghana’s Power Ministry in 2015, in response to the newspaper publication, said the Government of Ghana did not pay any money for the equipment and will not be making any payments, as well.

Energy think tank Africa Centre for Energy Policy (ACEP) at the time said in a statement that it was wrong for the Power Ministry to say that it will not be making any payments for the cost of the equipment because state power producer Volta River Authority (VRA), will be making payments to AMERI.

“AMERI will be paid US$850,000 per turbine per month. This will amount to US$8.5 million for the ten turbines, with cumulative annual payments of US$102 million. In addition, an amount of US$16.6 million will be paid as variable cost. This brings the total payment due to AMERI and its partners to almost US$120 million,” the statement said.

ACEP also maintained that: “The cumulative payment for the plant is US$510 million. So, there is no falsehood. If bought outright, it would have been of the order US$220 million subject to any additional costs that the Ministry of Power will provide on the auxiliaries”.

Speaking on Monday, 27 March, Mr Jinapor said he and the previous administration were willing to assist the current government to get to the bottom on the matter since they did the right thing as far as he is concerned.

More to Follow.......
Prev   1 of 1   Next
Latest in Business News
Leave Your Comment