Sh2.4bn arbitration award haunts GDC bosses
Nairobi, April 17 -- The National Assembly has opened a full-scale inquiry into Sh2.4 billion that the Geothermal Development Company (GDC) paid to a UK firm that drilled incomplete wells in the Menengai geothermal field.
The Public Investment Committee on Commercial Affairs and Energy has summoned Attorney-General Justin Muturi to shed light on how the State handled the dispute at the London-based International Arbitration Tribunal (LCIA), which awarded $26.26 million(Sh2.4 billion at the time of the award in 2017 and Sh3.46 billion at current exchange rates) to a British energy firm, Cluff Geothermal Company.
The committee chaired by Pokot South MP David Pkosing wants Mr Muturi and Solicitor-General Kennedy Ogeto to appear next week t...
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