Information reaching Kossyderrickent has it that Nana Akufo-Addo is selling a $500M-valued Tema Oil Refinery cheaply for $22M to a private company.
So, for many years, various shady deals and shadowy investors have been paraded as saviours of TOR, of which the latest are Decimal, Legacy and Torentco.
None of these entities have what it takes to truly revamp TOR.
The opacity, underhand dealings, shadiness and murkiness risk becoming a breeding ground for criminal and underworld activities, destroying what little reputational value remains in TOR. Already, there are fears that some of the partners proposed for the Torentco transaction may be embroiled in sanctions-busting activities.
Tema Oil Refinery (TOR) risks being sold for $22m to a private person when it can generate over $700 million within six years.
During Mahama’s govt, TOR was in operation under Awuah-Darko, continued in 2017 under Isaac Osei only to be collapsed along the line after chop chop.
Prior to the possible leasing of the Tema Oil Refinery to Torentco Asset Management for the next 6 years, the Energy Minister met with the workers in March on the lease agreement and revival of the oil refinery.
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