Economy

Government chases STX Korea to recover assets

Carbonatix Pre-Player Loader

Audio By Carbonatix

Government has decided to pursue STX Korea to recover all investments into the company and assets it provided to execute the now aborted housing project. Works and Housing Minister, E.T. Mensah said this at a news conference in Accra. The STX housing project which was expected to provide some 300,000 housing units has stalled due to long winding boardroom wrangling between the Koreans and their Ghanaian partners. But E.T. Mensah says the government will leave no stone unturned in its desire to retrieve its assets. Joy News’ Evans Mensah who was present at the news conference reported that government will also withhold any benefit that will accrue to STX. The Minister would not however say how much government has invested in the aborted project, except to add that 15 sites were made available to the company for the construction of the houses. The Minister said the government will take adequate steps to repossess all the lands made available to the Korean partners. According to him, the Attorney General has been instructed to look into the details of the contract signed with STX and advice appropriately. E.T. Mensah also reiterated government’s unwavering commitment to provide houses for the security personnel. He said a housing committee has been set up within the ministry which is thoroughly looking into 40 proposals presented by private housing companies to build affordable houses for government workers, explaining that the 40 proposals have been shortlisted to four but with the bitter experience from STX, government is not in hurry to make it public. He said until actual construction has started, the government will not make any ‘noise’ about it.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:  
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.