August 4, 2010

STX Engineering and Construction Ghana Limited says it is no troubled by comments by the minority side of Parliament suggesting that it would regret entering into that Housing deal with the Government of Ghana.

Mr. B.K. Asamoah, CEO and Managing Partner of STX Engineering and Construction Ghana Limited, a subsidiary of the STX Company in Korea, was reacting to the comment made on the floor of Parliament by the Minority Leader, Hon. Osei Kyei Mensah-Bonsu.

Although the comment has been tagged as reckless by the Minister for Water Resources, Works and Housing, Hon. Alban Bagbin, Mr. B.K. Asamoah found it appropriate to reiterate that STX was not the least perturbed, explaining that they are fully aware that the deal is a good one that will benefit both parties.

Mr. Asamoah who witnessed the approval of the 1.5 billion dollar Supplier’s Credit Agreement, covering the 30, 000 STX Housing project for the nation’s security services, told Citi FM’s Parliamentary Correspondent Richard Sky, that they were ready to commence the project.

‘‘We are not troubled that the Minority did not participate in the approval. We
don’t feel anything about it because it’s nothing new and we are not the least threatened. The most important thing is that we went through the procedure. They (Minority) can’t stop the Korean government from financing the deal, it’s simple as that.

Mr. B.K. Asamoah told Citi News the project has delayed for close to three months, and that work will start immediately after a final meeting with government is held.

”We need to get ready and get on the road, because the project has already delayed for more than three months. And as you all know, the Korean President was supposed to come to Ghana so we need to get ready and start. As soon as possible we will start work, but for now we need to speak to the Housing and Finance Ministers” he said.

He said STX is not perturbed about political interference in the future once the deal would be fully insured against that.