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Business News Tue, 24 Apr 2018

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MiDA assures transparency in ECG deal

The Millennium Development Authority (MiDA) has indicated that it will be open and fair in all dealings related to the private sector participation in the Electricity Company of Ghana (ECG).

BXC Ghana Limited (BXC), a Ghanaian-registered Chinese company which is a subsidiary of Xiaocheng Electronic Technology Stock Co. Ltd has sued MiDA over its “unfair” disqualification in its bid to manage ECG under the Power Compact II agreement.

MiDA recently settled on Meralco Consortium led by the Manila Electricity Company of the Philippines, to manage ECG following BXC’s disqualification.

In a press statement on Tuesday 24 April 2018, MiDA said it has received the writ by the Accra High Court but however indicated that they will not comment on the development till the court settles the issue.

“The Millennium Development Authority (MiDA) wishes to confirm that it has been served with a writ of summons by BXC Consortium. “As the matter is now before the High Court in Accra, MiDA does not wish to prejudice the ongoing court proceedings and will therefore not make any comments on the matter at this time,” Pamela Djamson-Tettey, Director of Communications and Outreach stated in the release.

Source: classfmonline.com

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