March 29, 2023

Crystal Updates: Be the first to Know!

AMERI Deal Brouhaha: NPP Scaring Away Investors–Former Energy Minister

AMERI Deal Brouhaha: NPP Scaring Away Investors--Former Energy Minister

Former Power Minister, Kwabena Donkor has cautioned the Majority in Parliament against the termination of the $510 AMERI Power deal.

He said the country will send the wrong signal to investors if the emergency power deal signed in 2015 is revoked.

Speaking to the media after meeting Parliament’s Mines and Energy Committee Friday, the Pru East MP said “due diligence” was done before the past government endorsed the agreement.

“Rescission will be a disservice to Ghana,” was the former Minister’s parting words to the media.

The Mines and Energy Committee is considering a motion filed by Adansi Asokwa MP, K.T Hammond that called for the termination of the agreement based on some new evidence.

The lawmaker said AMERI Energy did not execute the project as agreed in the contract.

He also said the Dubai firm charged $510 million and sublet the contract to a Turkish firm, Power Project SANAYI (PPR) at $315 million less than what was charged.

The Minority has boycotted any meeting held to discuss the rescission motion, insisting nothing untoward was done.

Answering questions before the Committee, Dr Donkor admitted he did not personally conduct a background check on AMERI at the time the deal was signed.

He told the Committee, an international financial firm that issued the standby letter of credit for the project did the checks.

The African Centre for Energy Policy (ACEP) has said the country would have been saved the embarrassment if its warning had been heeded to by the past government.

ACEP Executive Director, Ben Boakye told Emefa Apawu on Joy FM’s Top Story the agreement was not in the interest of Ghanaians.

“It was a bad deal and government could have been cautious,” he said, adding “much due diligence was not done.”

But Dr Donkor said rescission of the deal will drive away investors in the country.

“It was done at the right time,” he noted, saying there was nothing fraudulent about it.

Story by Ghana | | AKAP

Related posts

%d bloggers like this: