Minority calls on govt to halt TOR lease agreement

The Minority in Parliament wants government to suspend plans to lease the Tema Oil Refinery (TOR) to a private firm, Torentco Asset Management Group for further stakeholder engagement.

TOR will be leased to Torentco Asset Management Group for $22 million for 6 years and is expected to refine up to 8 million barrels of fuel annually.

Also in the deal, the group will pay $1 million as annual rent and an additional rent amount of over $1 million per month.

Speaking to journalists, the Ranking Member on the Mines and Energy Committee of Parliament, John Jinapor said the deal in its current form would not inure to the benefit of Ghanaians.

“We believe that that contract is inimical, that contract will not inure to the benefit of Ghanaians. That contract will not benefit the ordinary Ghanaian and that contract does not meet value for money.”

“We are therefore calling on the Akufo-Addo and Bawumia-led government to put a halt to this lease agreement, engage further with stakeholders, and ensure that we find a long-lasting solution to the problems confronting TOR,” he stated.

Mr Jinapor said these firefighting approaches will not help the refinery as the refinery had seen five different managements under the government.

“It thus appears that they are playing with the refinery. It thus appears that there is no seriousness being shown when it comes to the revitalisation of the refinery,” he added