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Momodou
Denmark
11723 Posts |
 Posted - 08 Apr 2011 : 15:09:49
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‘Nawec owes SSHFC D118M’
By Musa Ndow
Friday, April 08, 2011
Aja Dr Isatou Njie-Saidy, the vice president and minister of Women’s Affairs, has confirmed that the records of the National Water and Electricity Company (Nawec) indicated that the amount owed to the Social Security Housing and Finance Corporation (SSHFC) as at 31st December 2009 is D118 million.
According to her, no principal repayment has been made so far but a total interest amount of D25, 075, 000 has been paid by Nawec to the SSHFC. VP Njie-Saidy made these revelations on Wednesday while responding to a question posed to her by the Minority leader and NAM for Kiang West, Hon. Momodou LK Sanneh. The minority leader was seeking for clarifications as to whether there are any payment plans between Nawec and SSHFC to settle the D118 million owed to SSHFC by Nawec.
She informed deputies that an understanding was reached, though not yet formalised, between Nawec and the SSHFC for the latter to convert the loan into an investment whereby it will own the asset (number 2, 6.5MW Deutz Generator Sets) acquired from the loan.
The VP further explained: “Subsequently, the D118 million, plus cumulative interest of D20, 060, 000 up to 31st December, 2010, plus interest at the rate of 12% per annum for six years ending 31st December 2016 and plus the additional investment by the SSHFC of Euro 1,840,600 for the construction and installation of the two generators by Global Trading Group (GTG) will then be paid by Nawec through a Power Purchase Agreement (PPA) for the six-year period. An advance payment of Euro 1, 300,000 out of the Euro 1, 840,600 was paid to Global Trading Group (GTG) by the SSHFC to do the construction and installation of the engines. Nawec is supervising that works on behalf of SSHFC and the said generator sets are expected to be commissioned in August, 2011.”
Source: Daily Observer
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A clear conscience fears no accusation - proverb from Sierra Leone |
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toubab1020
12311 Posts |
Posted - 08 Apr 2011 : 18:56:05
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Well I suppose its something,but how much is a secondhand LARGE generator worth after working for a year in Gambia's Climate,with regular maintainence of course by Gambian engineers. ?
"She informed deputies that an understanding was reached, though not yet formalised, between Nawec and the SSHFC for the latter to convert the loan into an investment whereby it will own the asset (number 2, 6.5MW Deutz Generator Sets) acquired from the loan." |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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kobo
United Kingdom
7765 Posts |
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