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– The Akufo-Addo administration was fined by the International Court of Arbitration
– The reason is that his administration canceled some energy contracts signed under Mahama
– About $ 30 million in fines were also slapped by the government
OUR MANIFESTO: This is what YEN.com.gh believes in
The International Court of Arbitration awarded a cost of $ 134 million and an interest of $ 30 million against the government of Ghana for the cancellation of an emergency electricity deal with GCGP Limited.
The contract was canceled under former Energy Minister Boakye Agyarko as part of several other energy contracts canceled by the nuclear power plant on the grounds that the country did not need these electricity deals.
The decision of the International Court of Arbitration ordered the Government of Ghana to pay “GPGC the full value of the early termination payment, as well as mobilization, demobilization and conservation and maintenance costs in the amount of US $ 134,348,661, as well as interest thereon. from November 12, 2018 until the payment date, accrued daily and compounded monthly, at the rate of LIBOR for six-month deposits in US dollars plus six percent (6%).
We will pay the compensation for frontline health workers this week – Agyeman-Manu
Akufo-Addo slapped with $ 130 million judgment debt for canceling Mahama’s energy deals (photo modified by arthur)
Source: Facebook
The Government of Ghana was also to pay GPGC an amount of “US $ 309,877.74 for the costs of the arbitration, as well as US $ 3,000,000 for the legal representation of GPGC and the fees and expenses of its witness. expert, as well as interest on the total amount of US $ 3,309,877.74 at the LIBOR rate for three-month deposits in US dollars, compounded quarterly. “
In other energy news
The BOOT (Build, Own, Operate and Transfer) agreement between the Government of Ghana and AMERI on the 250 MW thermal power plant ends today, January 31.
Under the agreement, the plant will be taken over by the Government of Ghana through Volta River Authority. In September 2020, AMERI wrote to the government on the terms of the contract and its readiness to hand over the plant.
“I can confirm that the government has not yet responded to the letter. Ghana’s debt to AMERI (over $ 32 million) has not been settled, no technical audit has been carried out and no VRA personnel have been trained to operate the thermal power plant. Economically, it will be in our best interests to own and operate the plant, ”economist Eugene Bawell revealed on his Facebook page.
Sika nu asa: Agyeman-Manu says $ 100 million allocated to fight COVID-19 has been used upOne thing of great concern is that the same AMERI deal caused Boakye Agyarko to be sacked as energy minister.
Ghana may already experience power outages this year. Independent power producers (IPPs) have all warned against stopping their services if the government does not pay them back the debt of more than $ 150 million.
Yvonne Nelson says Mahama ended Dumsor
Ghanaian actress Yvonne Nelson has said that former President John Mahama was the one who fixed the dumsor before stepping down from power in 2016.
Yvonne, known for her bold political statements, was reacting to a post she posted to a tweeter in which a user apparently misunderstood her.
According to the user of the name Antaru Mashud, Yvonne fought for Akufo-Addo to take power in 2016 only for the Ghanaians to suffer.
Meanwhile, shortly after Yvonne led this vigil against Mahama, she turned to congratulate him on the improved power supply.
Residents of Abuakwa North in the East region prohibited from bringing corpses home before burialShe also gave Mahama a lot of praise for some of his accomplishments before he lost power.
Yvonne, for example, congratulated Mahama on her facelift at Kotoka International Airport, pointing out that she was so impressed.
She again congratulated the former president on his important infrastructural developments for Ghana.
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