The Ranking Member on the Mines and Energy Committee of Parliament, John Jinapor, has emphasized that if the government disregards calls to halt the planned lease of the Tema Oil Refinery (TOR) to Torentco Asset Management Group, the Minority Caucus will resort to alternative measures.
Under the government’s proposal, TOR would be leased to Torentco Asset Management Group for a period of six years, at a cost of $22 million.
The group is expected to refine approximately 8 million barrels of fuel annually. As part of the agreement, Torentco Asset Management Group would pay an annual rent of $1 million, in addition to a monthly rent exceeding $1 million.
However, during an interview with the media John Jinapor stated, “We will initiate various processes, both within the parliamentary and legal frameworks, to ensure that the appropriate actions are taken.”
Jinapor further emphasized the importance of the government exploring alternative and innovative approaches to revitalize TOR instead of proceeding with the lease to a private firm.
He stated, “We should rather think about something innovative that will bring the refinery back to speed.”
Jinapor urges government to pause lease agreement, seek stakeholder input for sustainable TOR solution, citing lack of benefit for Ghanaians.