Nana Afum Dwamena III, Kwahu Nkwatia Benkumhene and CEO of Ashanti Port Services Limited
Justmoh Construction To Refund 33.3 Million…As Arbitration Tribunal Rules in Favor of Ashanti Port Services Limited.
In a definitive move for the Boankra Inland Port (BILT) project, the Ghana Arbitration Centre (GAC) has concluded a legal dispute between Justmoh Construction Limited and Ashanti Port Services Limited (APSL).
The unanimous decision requires Justmoh Construction to refund $33.3 million to APSL, representing the balance of advance mobilization funds.
The panel—comprising Justice Nene A.O. Amegatcher, Mr. Emmanuel Amofa, and Professor Richard Frimpong Oppong—delivered the ruling to resolve the financial friction that has shadowed the project.
Key Financial Obligations:
The tribunal’s award outlines a specific set of payments and penalties to settle the accounts between the two firms:
Principal Refund:
Justmoh Construction must return $33.3 million to APSL.
Interest:
A simple interest rate of 4% per annum will accrue on the refund if not paid within 30 days of the ruling.
Work Credits:
In a cross-payment, APSL must pay Justmoh $7,107,456.70 as compensation for earthworks already completed at the site.
Legal & Administrative Costs:
Justmoh has been ordered to cover 75% of APSL’s legal fees, along with 75% of the arbitration and administrative costs (totaling $226,875 and GHS 26,250).
Earthworks Dispute:
The core of the arbitration centered on the valuation of site preparation. Justmoh Construction argued their work was worth over $33 million, backed by progress reports and visual evidence.
Conversely, APSL valued the work at only $4 million.
While the tribunal noted that APSL failed to provide independent expert valuations to challenge Justmoh’s documentation, it ultimately balanced the figures in its final award.
The tribunal also confirmed that Justmoh had lawfully terminated the Boankra Contract.
APSL CEO Reaction:
Nana Afum Dwamena III, CEO of APSL and the Kwahu Nkwatia Benkumhene, welcomed the ruling in an interview with Despite Media.
He described the verdict as a victory for the rule of law and a necessary step for the project’s future.
“Accepting the verdict demonstrates maturity, responsibility, and respect for the rule of law,” Nana Afum Dwamena III remarked.
He further noted that such resolutions are critical for maintaining investor confidence and ensuring that developmental projects do not stall indefinitely due to legal gridlock.
Procedural Timeline:
December 19, 2023: Arbitration initiated by APSL.
February 2024:
Tribunal formally constituted.
Final Ruling:
All other claims by both parties were dismissed, bringing a total end to the legal dispute.
Click the link below to read the full ruling:
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