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Prez Mahama directs Finance Minister to look for alternative funding for Gas project

President John Mahama has directed Finance Minister, Seth Terkper to look for alternative sources of funding for the Ghana Gas project.

The project has stalled because the Ghana Gas Company is facing some financial challenges due to delay in the disbursement of the China Development Bank loan.

This has led to several postponements of the completion timeline.

But the Chief Executive, George Sipa Yankey tells Joy Business, the President’s directive is important for the completion of the project.

“We at Ghana Gas are determined to finish the project by the end of the year once we get enough money.

“What is most important for us is to pay our contractors and so if we get the money as directed by the President, I can assure you we would finish the project this year.”

Source: myjoyonline

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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