The Bulk Oil Storage and Transportation (BOST) has taken a decision that is widely regarded as extremely wise in connection with its controversial head office building project.
The project has stalled for some years now because of allegations of bloated cost.
The current management in consultation with the Board of Directors has agreed with the company executing the project, Rolider Ghana, to have an international valuer to value the project to see if indeed the project should cost $38million as quoted.
What is more fascinating is the fact that BOST had signed a Memorandum of Understanding (MoU) with Rolider that the two entities would accept whichever way the valuation of the project would go.
The decision of BOST was in-spite of the fact that the nation’s anti-graft agency, Economic and Organized Crime Office (EOCO) had earlier given a green light for the project to proceed.
Again, the Attorney General’s Office has also okayed the continuation of the project after BOST wrote to the state legal advisor for an advice on the stalled project.
An outright cancellation of the project based on bloated cost would have created problems for the state.
The current Managing Director of BOST, George Mensah Okley, mindful of controversies on the project, worked in concert to have international valuers to work on the project to ensure its continuation or otherwise.
Credible information has it that some six companies are bidding to be the valuer.
As a mark of transparency, BOST decided to open up for a competitive bidding to have a company to do valuation of the project.
There was an audit on the building project during the tenure of Mr. Alfred Obeng Boateng as the Managing Director of BOST.
Although, the audit revealed that the cost of the project was bloated, there were reservations that the audit was done in hurried manner.
The current management and board are very mindful of the implications of canceling the project and it is for that reason the project was going through international valuation.
The $38million project was started under Kwame Awuah Darko under the erstwhile John Dramani Mahama administration.