SENIOR officials of the Atuabo Freeport Ghana Ltd, a company which is undertaking the Atuabo Freeport project have disclosed that over 1,000 jobs will be created during the 25-month period of the project which starts in the second quarter of next year.
Out of the figure over 700 jobs will be created during the construction phase, while over 300 workers will be employed to man the facility after completion.
The US$600million facility, according to the senior officials aimed at providing support services to offshore oil and gas activities both in Ghana and in the West African sub-region.
The Commercial Manager of the Atuabo Freeport Ghana Ltd, Lawrence Lamptey, told senior journalists in Accra: “Barring no technical hitch, the project will be completed within the timetable. We are hoping and praying that we will meet that target, but any changes that occur in the environment will also affect our timetable,”
He added that they have cleared the hurdles that stood in their way, and that “all things being equal” implementation will commence by the end of second quarter next year.
“The project will run for twenty-five months, but there are preparatory works going on before the construction begins. So hopefully by the end of second quarter 2015 we will hit the ground running.”
The Chief Finance Officer of Atuabo Freeport GhanaLimited, Reginald Okai revealed that the chairperson of the port would be nominated by the government of Ghana, stressing ‘ As an equity shareholder in the project, government is also expected to earn dividend and royalty payments.’
Mr Okai further revealed that initiator of the project Lonrho — a UK logistics company — has a 35% stake while the government of Ghana has 10% carried interest, followed by a 35% interest to be purchased on commercial basis by Ghanaian institutions being coordinated by the Finance Ministry.
The remaining 20% he said is to be held by what officials of the company call “other institutional investors”.
A memorandum of understanding was signed for the project between Lonrho and the government of Ghana in August 2011, under the late President Atta Mills.
The project, which was initially billed to commence second quarter this year, has been held back due to concerns raised by various bodies including the Trades Union Congress — which kicked against the exclusive right given to Lonrho to build and operate the port for twenty-five years initially, but this has been reduced to ten years.
The Ghana Ports and Harbours Authority had also argued that it is the only mandated body to build and operate ports in Ghana, and so did not see why government would give a private firm the go-ahead to do same.
This was followed by a suit filed in a Sekondi High Court by five parliamentarians who questioned aspects of the agreement — particularly clause seven which they said barred the existing Takoradi Port from expanding to also take advantage of oil and gas services.
Once parliament had already approved the agreement, the court — presided over by Justice Ababio — dismissed the case, saying it could not interfere in the legislature’s decision and citing the existence of separation of powers in the country’s statutes.
African Eye News.com
