In a significant legal resolution regarding the Boankra Inland Port (BILT) project, the Ghana Arbitration Centre (GAC) has issued a unanimous ruling requiring Justmoh Construction Limited to refund $33.3 million to Ashanti Port Services Limited (APSL).
The tribunal, chaired by Justice Nene A.O. Amegatcher alongside Mr. Emmanuel Amofa and Professor Richard Frimpong Oppong, determined that this sum represents the outstanding balance of advance mobilization funds.
Financial Breakdown of the Award
The ruling involves a series of cross-payments and interest stipulations designed to settle the accounts between the two entities:
Primary Refund: Justmoh Construction must pay APSL $33.3 million.
Interest: A 4% annual simple interest rate will apply to the refund, beginning 30 days after the receipt of the ruling until full payment is made.
Counter-Payment: APSL is required to pay Justmoh $7,107,456.70 for earthworks successfully completed at the port site.
Legal & Admin Costs:
Justmoh Construction is responsible for 75% of APSL’s legal fees, as well as 75% of the administrative and arbitrator fees (totaling $226,875 and GHS 26,250).
The Valuation Conflict
A major focal point of the proceedings was the actual value of the earthworks performed by Justmoh.
While APSL contended the work was worth only $4 million, Justmoh claimed a value exceeding $33 million, citing progress reports and photographic evidence.
The tribunal observed that APSL did not provide independent expert valuations to counter Justmoh’s documented evidence.
Ultimately, while the tribunal found the earthworks were significant, it also ruled that Justmoh had lawfully terminated the Boankra Contract.
Timeline and Closure
The arbitration was initiated by APSL on December 19, 2023, with the tribunal formally constituted in February 2024.
With this final ruling, the GAC has dismissed all other claims from both parties, effectively ending the legal dispute.
Mr Joseph Amoh, CEO of Justmoh Construction Limited
CEO of Ashanti Port Services:
Nana Afum Dwamena III, Kwahu Nkwatia Benkumhene and CEO of Ashanti Port Services Limited
Nana Afum Dwamena III, the Kwahu Nkwatia Benkumhene and CEO of Ashanti Port Services Limited, expressed his satisfaction with the verdict during an interview with Despite Media.
“Accepting the verdict demonstrates maturity, responsibility, and respect for the rule of law,” Nana Afum Dwamena III stated.
He emphasized that the ruling provides much-needed clarity and closure, praising Ghana’s alternative dispute resolution mechanisms.
He noted that while such outcomes may not fully satisfy every party, respecting the decision is vital for investor confidence and preventing the developmental stalls that prolonged disputes often cause.
Story By Michael Ofosu-Afriyie, Kumasi
