The local partners of STX Engineering and Construction Company Ghana have provided a settlement package for their Korean partners in a bid to end the wrangling that has stalled the STX housing project.
B.K. Asamoah’s G.K Airport Company Tuesday presented an undisclosed amount, meant to pay off the Koreans, to the Commercial Court hearing the STX case in Accra.
Joy News’ Sammy Darko who was in court during Tuesday’s proceedings reported that the court is set to rule on the “amicable settlement package” on 24 November 2011, which is expected to determine whether the contract involving the two partners would be terminated or not.
Even though information about the package is sketchy, it is believed that B.K. Asamoah’s G.K Airport Company will pay their Korean counterpart every money spent in the course of the partnership.
Snippets of information picked from the court indicate that if the ruling is given in favour of the local partners, the STX housing project will start early December.
G.K Airport Company has also brought in a new investor, Western Form Technology, for the project to commence smoothly.
The project is expected to provide 30,000 housing units across the country at the cost of $1.5 billion for the security agencies.
Later in an interview with Sammy Darko, Chief Executive of STX Engineering and Construction Ghana, B. K. Asamoah, apologised to President Atta Mills for the pain the internal wrangling of the partners might have caused him.
“I want to take this opportunity to first of all apologise to His Excellency the President for any embarrassment caused to him due to this back and forth with the South Koreans.”
Despite the longstanding internal strife, Mr Asamoah is confident the project would meet the deadline.
“It will not have any effect on the time-line,” he explained, “We will expand the membership of the project to engage more Ghanaians so that we can quickly deliver as we did promise.”
The project has the finances secured and technology agreed, he said.
“The issue is not governmental, it is not personal, but it is commercial in nature,” Mr Asamoah stressed.
He insisted that in spite of the fact that the partners have changed, there would not be the need to go back to the government for another approval.
From: Ghana | Myjoyonline.com | Isaac Essel
http://edition.myjoyonline.com/pages/news/201111/76518.php
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