$ 2 Billion Sinohydro Deal: Propaganda of Impossibility Will Turn Its Execution into Testimony – Dr. Gideon Boako

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Vice President’s spokesman Gideon Boako has called criticism of the opposition National Democratic Congress (NDC) s $ 2 billion Sinohydro deal as propaganda.

According to him, these criticisms, unfounded as they are, would make the project a testimony after it was realized.

“I can appreciate Sammy Gyamfi and our colleagues in the NDC for the persistent criticism of Sinohydro and the claim that it will be impossible. The propaganda of her impossibility will make her execution a testimony, ”he said JoyNews‘News file on Saturday.

Previously on the show, NDC communications officer Sammy Gyamfi described the Sinohydro deal, which was put in place to solve road infrastructure challenges in Ghana, as a monumental failure.

“Some of us are not surprised that the much-vaunted Sinohydro deal turned out to be a total fiasco. It came about because it was primarily just propaganda aimed at bolstering the Vice President’s image, to give the impression that when he was not the Vice President he was doing something extraordinary, ”said Sammy Gyamfi called.

In response, Dr. Gideon Boako, however, that such comments were due to a misunderstanding of the entire $ 2 billion Sinohydro agreement between the Ghanaian government and the Chinese state-owned Sinohydro Corporation Limited.

He announced to host Samson Lardy Anyenini that four of the 10 lots in phase one have already started. It does so one year after the government signed the EPCs in 2018.

“On September 1, 2018, we signed EPC and a deferred payment with Sinohydro. After we signed that, work began on Lots 3, 7, 8 and 10 on December 28, 2019. Take a look at the passage of time. The start of the lots began in December 2019. From that point on you have to understand it. “

Lot 3 – Construction of the Tamale Interchange;

Lot 7 – Construction of Prestea Township and Cape Coast Inner City Roads. A total of 32 kilometers of roads are being built in Cape Coast and Prestea. In Cape Coast 22 kilometers of inner-city roads are being built, while 10 kilometers of roads are being built in Prestea Township;

Lot 8 – Expansion of selected access roads in Ashanti and the western regions. 68 kilometers of feeder roads in the Ashanti and Western North regions are being rehabilitated. The roads to be rehabilitated are mainly located in communities with bauxite deposits;

Lot 10 – Construction of the Hohoe-Jasikan-Dodo Pepesu road of the eastern corridor. This involves the construction of the 66-kilometer section of the Eastern Corridor Road between Hohoe and Jasikan and Dodo Pepesu.

According to Dr. Gideon Boako, the work has not stalled and these projects in phase one are expected to be completed within three years.

“In the deferred payment agreement, the government cannot make payments to Sinohydro until three years after the project has been completed,” said Dr. Boaco.

background

In order to bridge the country’s serious infrastructure deficit, the government signed a Master Project Support Agreement (MPSA) for 2 billion US dollars with the state-owned Chinese Sinohydro Corporation Limited in September 2018.

Under the agreement, Sinohydro, a hydropower engineering and construction company, is financing and executing the construction of infrastructure projects across Ghana in exchange for bauxite.

The Atiwa Forest was then designated as a site for exploitation by the Chinese company for 15 years.

Located in the southeastern part of the country, Atiwa Forest is an area of ​​26,000 hectares that is rich in bauxite and other mineral resources such as manganese and iron.

According to the US Department of Geology, the Atiwa Forest holds more than 960 million tons of bauxite reserves valued at more than $ 500 billion.

Against this backdrop of sealed wealth, the government was able to secure an unprecedented exchange deal to meet Ghana’s infrastructure needs.

In July 2018, the Akufo-Addo government requested parliamentary approval, arguing that all 16 regions will experience remarkable infrastructural growth through the Sinohydro agreement.

The projects include hospitals, the expansion of power supply for rural communities, the construction of court and residential buildings for the judicial service, landfills and industrial parks.

Divided into phases, the first phase of the project costs $ 646.6 million and begins with the Tamale Interchange project.


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