…For CAN 2008 Stadia Projects
As Ray Smith Reveals The Terraconi/Waterville Connection (Part Two)
The 10-page ‘confidential document’ attached to a ‘secret letter’ and sent to President J.E.A. Mills, dated December 19, 2011 which was intercepted by The Special Investigations Team (SIT) of The New Crusading GUIDE has revealed the identity of the man behind Waterville; Ernesto Terraconi.
It is instructive to note that Ernesto Terraconi, is also the owner of Michelleti and the plush Trasaco Estates.
The author of the ‘secret letter’, Mr. Ray Smith, Chief Executive Officer (CEO) of M-Powapak Ltd., stated in the attached document that “At a late stage Messrs. Vamed decided that they did not after all, wish to have responsibility for the stadia-projects. Instead the company assigned its rights to Messrs. Waterville (A Tarraconi company)”.
Mr. Smith also clarified claims that the CAN 2008 Stadia Projects were officially given to an entity before the arrival of the Chinese company.
“The facts appear to be that our Bid won the Process but before this was officially declared the Government ordered that the entire process be cancelled. Instead Pres. Kufuor red-flagged a procurement order and went to China to purchase Stadia”, he wrote to President Mills.
NB:
Published below is Part Two of the 10-page ‘confidential document’ from the M-Powapak Boss to President Mills.
*7. In the year 1998, exactly on the 25th of February 1998, our company m-Powapak Ltd. was founded.
The only Directors and Shareholders are Ray and Ingeborg A. Smith.
Mr. Smith established successfully a construction company and m-Powapak Ltd. became the sole importer of Red Bull Energy Drink. The first container was received in August 1998.
Years later, Mr. Kobby Woyome, brother of Alfred Woyome, established “Stewise Shipping” a freight forwarding company.
At the time m-Powapak Ltd. was experiencing delays with its importation of product through Maersk and which were not satisfactory. We changed to Stewise Shipping and, indeed, obtained satisfaction in speed and reliability of delivery.
And thus Mr. Kobby Woyome became a very frequent visitor to m-Powapak’s premises.
Before that he also requested me to allow him work some time in our company so that he could learn about marketing and customer relations. He was with us for a few months without payment.
*8. In the fullness of time, we, m-Powapak and Mr. Woyome, together with an Austrian company, Vamed, and which we represented, began to participate in a national bidding process in regard to the CAN 2008 event which required football/sports stadia.
At the same time various Ministries expressed their support to include other projects such as regional hospitals, a National Accident and Emergency Centre, a Wellness Centre and, in conjunction with the Ghana Atomic Energy Commission the upgrading of its Cobait 60 irradiation unit and the extension of its important Tissue Culture facility.
My wife and I had met the Director General of the GAEC in early years and visited the company various times. We could see the need of above mentioned and included everything into our package of projects.
All these projects appeared to have full Ministerial support but were simply subject to the ability to raise concessionary finance for them.
Collectively we went ahead to put together a bundle of some 19-20 projects with the necessary financial engineering. Their total value was some Euro 1,1 billion.
Over an extended period we complied with every requirement of the National Procurement Board.
*9. At a late stage Messrs. Vamed decided that they did not after all, wish to have responsibility for the stadia-projects. Instead the company assigned its rights to Messrs. Waterville (A Tarraconi company).
This was the time when we and Mr. Woyome went to Vienna and stayed in the Ambassador Hotel for 2 weeks. Accommodation, food, business facilities, rental of Club Room for the meeting, and finally a ticket to Turin for Mr. Woyome were all paid by me alone.
*10. Some years previously, on 23rd October 2001, Ray Smith had established a company in Switzerland by the name of Austro-Invest Management (AIM).
This was specifically to have access to European Banks for loans for developing nations, with Ghana particularly in mind.
It was through the efforts of AIM, m-Powapak Ltd. (The Smiths) and Mr. A. Woyome, that an offer was made by Bank Austria to the Government of Ghana in the sum of some 780 million Euros to finance the projects on a concessionary basis.
The details of this are on record at the Ministry of Finance (particularly Mr. Paul Asimenu).
The facts appear to be that our Bid won the Process but before this was officially declared the Government ordered that the entire process be cancelled. Instead Pres. Kufuor red-flagged a procurement order and went to China to purchase Stadia.
Stay tuned for the Part Three next Monday.