RE: Outstanding Payments1 May 2020 19:32
Good old AK eh! Never changes!
There is no assurance that such programme will remain in place or continue to be funded. Despite this programme being in place, Accugas Limited has historically experienced payment delays in respect of the supply of gas to Calabar NIPP and Ibom Power station. As at the date of this document, US$65 million is outstanding under the Calabar GSA and the Company is working with NDPHC to settle this amount in a timely fashion without resorting to claiming under the World Bank Partial Risk Guarantee. NDPHC is the primary obligor under the Calabar GSA and it is the Directors current intention only to invoke the Partial Risk Guarantee once all other commercial avenues have been exhausted with NDPHC.