Ghana’s strategic stock oil keeping company, Bulk Oil and Storage Transport Company Limited (BOST), has revived a good number of its non-functional/broken down assets, thus, positioning the company better than it used to be about four years ago.
BOST’s assets, such as pipeline infrastructure, storage tanks, barges, tugboats and other vital installations had been deteriorating after being abandoned for years by successive leadership of the company.
Besides the deteriorating assets, the company was also saddled with total legacy debt of about US$623,602,303.
However, speaking on an Accra-based Asaase Radio’s ‘Energy 101 Programme’, which was monitored by energynewsafrica.com, the General Manager in-charge of Corporate Communication, Marlick Adjei stated that the current management of BOST, led by Edwin Provencal, has been able to fix 60 percent of the problems they inherited from the previous administration.
“About 60 percent of the problem is being fixed, as we speak,” he told the host of the programme, Emmanuel Aboagye Wiafe.
He said the current management has been able to repair and make operational 9 out of the 15 storage tanks at APD, Buipe and Bolga, which were abandoned.
According to him, both Buipe-Bolgatanga Petroleum Product Pipeline (B2P3) and Tema-Akosombo Petroleum Pipeline have been fully repaired and currently in use.
He added that its non-operational petroleum barges have been repaired and working, adding that installations of meters, fixing of pumps and loading arms had also been done.
Out of the total debt stock of US$6 million, an amount of US$573million has been paid, leaving an outstanding debt of US$50 million.
In his view, the vision and strategy being put in place by the current Managing Director has brought health to the one time ailing organisation.
“There is every hope that the BOST that Ghanaians know in the past is not what we have today. The current MD has a strategy in place and within the next few years, given the rate at which we’re reviving the equipment of the company, we will be able to make Ghana proud,” he posited.