Business News of Thursday, 7 March 2013
The Government of Ghana says it is yet to determine the exact kind of strategic partnership it intends to commit state refinery Tema Oil Refinery (TOR).
TOR has not been refining crude since July 2012 following breakdown of vital equipment.
The government has already given 30 million dollars to the Refinery to fix the reactor and other equipment.
An additional 37 million dollars will be released to the company for other re-tooling works.
But information and media relations Minister Mahama Ayariga in an interview with XYZ Breakfast said the government intends hiving off some of the State’s ownership of TOR to a private partner as a way of restoring efficiency in the Refinery.
He however denied reports that TOR will be totally privatized without the government having any stake in it.
“We need some re-orientation and to achieve that very often the model has been to seek strategic partnership and that is the thinking that is taking place” Mahama Ayariga said.
He added that “that is not a sale of TOR, that is bringing in partners so that you can be more resourced and have some other perspectives”.