The Minority in Parliament is calling for the suspension of plans to lease the Tema Oil Refinery (TOR) to a private firm, Torentco Asset Management Group for further stakeholder engagement.
According to them, the deal in its current form would not inure to the benefit of Ghanaians.
TOR will be leased to Torentco Asset Management Group for $22 million for 6 years and is expected to refine up to 8 million barrels of fuel annually.
Under the agreement, the group will also pay $1 million as annual rent and an additional rent amount of over $1 million per month.
But speaking to journalists in Parliament, Minority Spokesperson on Energy, John Jinapor said there is a need for the government to reopen the procurement process to allow for the selection of a strategic partner for the management of TOR.
“Our checks have indicated that the company has no track record when it comes to the oil sector and its balance sheet does suggest that it cannot provide the needed support for the Tema Oil Refinery.
“We believe that that contract is inimical, that contract will not inure to the benefit of Ghanaians. That contract will not benefit the ordinary Ghanaian and that contract does not meet value for money.”
“We are therefore calling on the Akufo-Addo and Bawumia-led government to put a halt to this lease agreement, engage further with stakeholders, and ensure that we find a long-lasting solution to the problems confronting TOR,” Mr. Jinapor stated.
The Yapei-Kusawgu MP stressed that these approaches by the government will not help the refinery as the refinery had seen five different managements under the government.
“It thus appears that they are playing with the refinery. It thus appears that there is no seriousness being shown when it comes to the revitalisation of the refinery,” he added