Pulse.com.gh logo

“Fraudulent” Ameri Deal Government did the best of due diligence - Edward Bawa

Government has been on the defensive after publication by a Norwegian newspaper on the Ameri deal indicated government may have signed a deal with a criminal

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

The ministry of power has insisted that due diligence was done in the Ameri gas turbines deal to provide 250 megawatts of power.

Speaking on Citi Fm the communication consultant for the Energy ministry Edward Bawa said The central bank and JP Morgan did all the necessary due diligence before signing the deal.

It has been revealed that one Umar Farooq who signed the deal with the power minister and the deputy attorney general Dominic Ayene is a criminal who is wanted by Swiss and Norwegian authorities.

The Power Ministry in a statement has denied all the issues raised by VG a Norwegian newspaper on the deal with government.

Read More : Government denies dealing with Norwegian fraudster

Edward Bawa says the entire deal cost 510 million dollars excluding the gas to run the turbines for a period of 5 years.

“It includes the civil work, it includes the substation it includes the installation of the equipment it includes the cost of financing, it includes the operation and maintenance, it includes the auxiliary”

Read More :  Power Minister Kwabena Donkor signs power deal with a Norwegian fraudster

He said the gas component is a variable cost and so it was not incorporated into the 510 million dollars.

The gas component that’s what I am saying, it is a variable cost. If today if the cost of gas is x per unit produced and tomorrow it is x plus one you can’t incorporated that into it.”

Read More: Somebody should take the fall for “Fraudulent” Ameri deal

He said government couldn’t have done better in the due diligence analysis before dealing with the company

“As part of the BOOT agreement, VRA which is supposed to do the off taker of this particular arrangement… the bank of Ghana conducted due diligence on Ameri. Internationally we got GP Morgan to do same, the ministry of Power and Attorney General's department did same and parliament which also scrutinized the agreement before it was signed.”

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Roshi Motman AirtelTigo CEO resignsbullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Fuel Price Hikes Fuel prices to drop again this weekbullet
4 Economy Bawumia must stop misleading Ghanaians over cedi...bullet
5 Salaries In 2018 Here are the dates public workers will be paid...bullet
6 Cedi Debate Mahama lacks understanding in Economics – Dr Bawumiabullet
7 Menzgold Ghana Investment company closes down its Gold Vault...bullet
8 Economy Bawumia says 'cedi depreciation temporary':...bullet
9 Shirley Frimpong-Manso and Ken Attoh owe The Royal Bankbullet
10 Shop and Drive Yawson Wins a Car in West Hills Mall’s...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Bozoma Saint John 10 quotes from Uber top official, Bozoma, that will...bullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Money Alert Meet Africa's richest womanbullet
5 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
6 Support Finance minister buys Kantanka carbullet
7 Plane Crash Starbow suspends operations following plane crashbullet
8 Dr Joseph Siaw Agyepong Nobody can collapse my company –...bullet
9 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
10 Entrepreneurship Creating Success Systems | StartUpSchoolbullet