Auditor General Nancy Gathungu. [David Njaaga, Standard]A report by the Auditor General (AG) has revealed that Geothermal Development Company (GDC) spent more than Sh900 million in drilling unproductive wells, which it ended up abandoning. “There were interest on unpaid invoices amounting to Sh62,041,000 and arbitration costs of Sh45,486,000 on account of GDC vs Cluff Geothermal case. The report indicates that the management had requested for abandonment of the liability which was not granted. “The company subsequently paid an installment of Sh50 million in the year ended June 2019.

Source: Standard Digital May 04, 2021 00:00 UTC