The Minority in Parliament is urging the government to suspend its plans to lease the Tema Oil Refinery (TOR) to a private company, Torentco Asset Management Group, and engage further with stakeholders before proceeding.
Under the proposed deal, TOR would be leased to Torentco Asset Management Group for a period of six years at a cost of $22 million. The group would be responsible for refining up to 8 million barrels of fuel annually. As part of the agreement, Torentco would pay an annual rent of $1 million, as well as an additional monthly rent of over $1 million.
Speaking to journalists, John Jinapor, the Ranking Member on the Mines and Energy Committee of Parliament, expressed concerns that the current contract would not benefit the Ghanaian people. He emphasized the need for the Akufo-Addo and Bawumia-led government to halt the lease agreement, engage in further consultations with stakeholders, and find a sustainable solution to the challenges faced by TOR.
Jinapor noted that the refinery had experienced frequent changes in management under the government, suggesting a lack of seriousness and commitment to its revitalization. He criticized the “firefighting approaches” taken so far and called for a more comprehensive and long-term strategy to address the issues facing TOR.
Source – citinewsroom.com
