Sinopec receives payment from Chinese Development Bank
Posted on: 26-Oct-2012
Chinese Development Bank (CDB), has made an advance payment of $225 million to Sinopec Petroleum International Corporation, contractors for the gas infrastructure project in the Western Region.
Dr George Sipa-Yankey, Chief Executive Officer (CEO) of Ghana National Gas Company (GNGC), who made this known at Atuabo in the Ellembelle District on Thursday, said the amount is part of the CDB’s 85 per cent commitment towards the gas project whilst Ghana made available $34 million representing part of the 15 per cent commitment.
Dr Sipa-Yankey made this known on Thursday when the Standing Committee of the Western Regional House of Chiefs paid a visit to the project site to assess the progress of work.
He said so far, the GNGC had spent $300 million on the project, which involved the purchasing of more than 10,000 pipelines, construction of warehouses, office and accommodation complex, water treatment plant, 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 and government is supposed to pay additional $192 million to Sinopec to complete the first phase of the project on schedule.
Mr Samuel Agyena the Civil Engineering-Lead of the GNGC, said because the area low line, the contractors are filling the platform of the project with laterite and gravels to a minimum of 2.5 metres to maximum of 3.5 metres above ground level to avoid flooding during downpour.
He said currently, the contractors had filled only 0.6 metres representing 10 per cent of the earthwork done so far and attributed the slow pace of the project to the erratic rainfall pattern in the area.
Other project sites visited by the chiefs included Bobrama in the Ellembelle District and Mampong in the Sekondi-Takoradi Metropolis.
The 200km pipeline, starts from the FPSO Kwame Nkrumah on the Jubilee Oilfields to Atuabo in Ellembelle District, through to Domunli in the Jomoro District to Aboadze Thermal Plant in the Shama District where the regulatory and metering station would be located.
The first phase of the gas project includes critical components such as lying of offshore and onshore pipelines, installation of gas processing plant at Atuabo, the construction of distribution station at Essiama, block valves as well as regulatory metering station at Aboadze.
President of the Regional House of Chiefs and Omanhene of Lower Axim, Awulae Attibrukusu III on behalf of the Committee, expressed satisfaction over the progress of work.