Euroget promises to deliver hospital projects on schedule

Accra, Euroget De-|Invest s.a. (EDI) of Egypt, an Investment project finance and management company, has promised to complete and finalised the construction and equipping of nine hospitals by the close of the year and 2018.

The state of the art fully functional 1,310 bed hospitals include a 500- bed military hospital in Kumasi for the Ministry of Defence and eight hospitals for the Ministry of Health, which includes regional hospitals in Wa and Kumasi.

There are also six district hospitals at Salaga, Twifo Praso, Madina (Now at Atomic/Kwabenya), Konongo, Nsawkaw and Tepa.

Dr Said Deraz, Chairman and CEO for Euroget Group told the Ghana News Agency in Accra on Thursday that the projects to be completed this year comprise the Wa Regional Hospital, and the Nsawkaw, Tepa, Madina and Konongo District hospitals.

He said the 250- bed capacity Kumasi Military Hospital, the Kumasi Regional Hospital and the Salaga District Hospital would be completed in 2018.

Dr Deraz We shall deliver to the people of Ghana the best health and quality.

He debunked media reports that his company had delayed the project and dared those with evidence to come forward and provide the evidence.

He said the journalists behind the yellow journalism were destroying the credibility of Ghana as a stable country with the political environment that had attracted a lot of investments.

Dr Deraz said apart from the Euroget project, he had invested in a Gold Coast Refinery Ltd in Accra, the biggest in West Africa and the second largest in Africa.

He said he would also bring in a concessionary facility of 940 million dollars for the government to decide where to invest the money.

In another development Mr Prince Armah, the Country Manager of Euroget Group said the company, which started operations since 2007, prospecting for infrastructure projects, specifically hospitals, went through the time consuming regulatory processes.

In a press statement he said after the various Ministries, Cabinet and Parliamentary approvals granted to the company in 2008, commercial and supplier credit agreements were signed.

The Value for Money audit on the contract was conducted by Crown Agents of UK and successfully concluded in 2010.

Consequently, the Turnkey EPC Turnkey contract for the nine hospitals amounting to $ 519.00 million was finalised in 2010.

The company offered a supplier credit facility arranged on concessional terms, providing sufficient financial savings for Ghana and certainty of payments to the sub-contractors and suppliers.

Various pre-conditions to the effectiveness of the supplier’s credit agreement and commercial contract have been strenuously pursued.

The pre-conditions include; the acceptable guarantee of payments by the |Ministry of Finance in accordance with the agreement, which was obtained in February 2012 and first legal opening has done in February, 2014 signifying full effectiveness of supplier credit facility.

Other pre-conditions for commercial contracts with the Ministries of Health and Defence included the release of lands and grant of access to sites for the hospitals, which were obtained on various dates, the last release being in 2014, and grant of final Tax Exemption by Parliament in End of December 2016.

The execution of the hospitals project scheduled in two phases and effectively commenced at different dates during 2014, are at various stages of completion, the statement said.

Source: Ghana News Agency