The International Court of Arbitration has granted an expense of $134 million and an interest of $30 million against the Government of Ghana over the wiping out of an Emergency Power Agreement with GCGP restricted.
The Contract was dropped under the previous Energy Minister Boakye Agyarko as a feature of a few other energy contracts dropped by the NPP on the premise that the nation didn’t require those force arrangements.
The decision by the International Court of Arbitration requested the public authority to Ghana to pay to “GPGC the full estimation of the Early Termination Payment, along with Mobilization, Demobilization and protection and upkeep costs in the measure of US$ 134,348,661, together additionally with premium consequently from 12 November 2018 until the date of installment, building every day and accumulated month to month, at the pace of LIBOR for half year US dollar stores in addition to six percent (6%).”
The Government of Ghana was likewise to pay GPGC a measure of “US$ 309,877.74 in regard of the Costs of the Arbitration, along with US$ 3,000,000 in regard of GPGC’s lawful portrayal and the charges and costs of its master observer, along with premium on the total measure of US$ 3,309,877.74 at the pace of LIBOR for three-month US dollar stores, accumulated quarterly.”
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