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Ghana National Gas Company Receives $255M From Chinese Development Bank
 
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29-Oct-2012  
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Dr George Sipa-Yankey
 
 
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Chinese Development Bank has made an advance payment of 225 million dollars to Sinopec Petroleum International Corporation, contractors for the gas infrastructure project in the Western Region.

The CEO of Ghana National Gas Company, Dr George Sipa-Yankey, announced this at Atuabo in the Ellembelle District when the standing committee of the Western Regional House of Chiefs visited the project site to assess the progress of work.

He said the amount is part of the Chinese Development Bank's 85 per cent commitment towards the gas project.

The CEO said so far, Ghana National Gas Company had spent 300 million dollars on the project, which involved the purchasing of pipelines, construction of warehouses, office and accommodation complex and water treatment plant.

Others are filling of the platform of the project site with laterite and gravels as well as laying of offshore and onshore pipelines and other contingency expenses.

The total cost of the project is estimated at 750 million dollars and government is supposed to pay additional 192 million dollars to Sinopec to complete the first phase of the project on schedule.
 
 
 
Source: GBC
 
 

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