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BOST Scandal U.S Engineering firm dupes BOST in $109m deal

According to the report, BOST contracted the company to construct two pipelines in 2006, but close to a decade on, the U.S Company has failed to deliver on the contract.

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Bulk Oil Storage and Transportation Company play

Bulk Oil Storage and Transportation Company

The American Tanker and Vessel Company, a  U.S based entity has allegedly  duped  Ghana’s Bulk Oil Storage and Transportation Company to the tune of $109 million as revealed by the Auditor General’s 2012 report.

According to the report, BOST contracted the company to construct two pipelines in 2006, but close to a decade on, the U.S Company has failed to deliver on the contract.

READ MORE: TOR to clear debt after posting $800,000 profit, MD says

Acting Managing Director of the Bulk Oil Storage and Transport Company, Kwame Awuah-Darko has revealed that BOST’s operations have been immensely hampered by the development. However, the government is liaising with U.S authorities to address the situation.

“The company has acknowledged non-performance under the contract. There is a last ditch diplomatic effort that started at the end of last year, if that doesn’t yield any results then we have no choice than to go down the legal route,” he told the Public Accounts Committee Monday May 30.

Mr. Awuah-Darko added that the transaction was one of the single fatal incident that nearly crippled the company.

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