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25.08.2011 Business & Finance

Government will not abrogate STX

By myjoyonline
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Government has no immediate plans to abrogate the controversial $1.5 billion STX housing project.

This is according to the Works and Housing Minister, Alban Babgin in an interview with Joy News' Araba Coomson.

The project has been fraught with many controversies with the recent being the boardroom squabble between the Ghanaian partners and their Korean counterparts.

The Koreans early last week claimed to have fired the CEO of the STX Construction Limited, B.K. Asamoah only for him to issue a counter statement a day later that he is still at post and that the Koreans have been shown the exit because they failed to honour their part of the agreement.

He stated he has now contacted an American company which is ready to provide the expertise needed for the execution of the project.

In the midst of the wrangling the New Patriotic Party which has all along objected to the project demanded that government abrogates the agreement.

Head of Communications of the party, Nana Akomea told Joy News the project has now become an embarrassing albatross on the neck of government and must be abrogated.

But the government maintains all is not lost.
Works and Housing Minister Alban Bagbin said government will not allow a petty boardroom squabble to derail its effort at providing houses for security personnel.

He said government is now mediating between the two feuding factions to find an amicable solution.

Bagbin does not see the agreement returning to Parliament.

He said government entered into an agreement with the Ghanaian company and not the Koreans, insisting, if in the unlikely event that the two partners – Ghanaians and the Koreans - are not able to build bridges, the Ghanaians are free to secure funding from another source for the execution of the project.

Story by Nathan Gadugah/