Chief Executive Officer (CEO) of Ghana National Gas Company (GNGC), Dr Sipa-Yankey notes that 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 .
Going by information from reportingoilandgas.com, the said 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.
The CEO notes that 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 expected to pay additional $192 million to Sinopec to complete the first phase of the project on schedule.
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