“Sonelgaz financial scandal smears CEO Bouterfa, other senior managers of the Group”
An Examining Magistrate of the Court of Algiers has summoned the General Manager of the National Gas and Electricity company Sonelgaz, NourredineBouterfa as well as the Group’s Secretary General and the Managers in charge of human resources and finance in addition to some other senior executives to provide explanations and clarifications about standing accusations of gross mismanagement and malpractice leveled against the Sonelgaz leading managerial staff.
The examining magistrate in charge of this burning file also summoned the Manager of the BNA Bank as a witness.
The former Sonelgaz CEO Abdelkrim Boughanem is also said to be involved in the affair which is now under the close perusal of Algerian justice pending fresh developments.
MrBouterfa and other senior managers of Sonelgaz are suspected of money embezzlement and malpractice in the ratification of lucrative contracts for the achievement of power plants in the regions of Hadjret Ennous, Targa and Koudiat Draouche.
Reliable sources told Echorouk that the expertise reports had shown that the achievement cost of these power plants had increased fourfold through shadowy practices.
The Sonelgaz CEO is also accused of blatant negligence in the recovery by the national gas and electricity company of late delivery penalties amounting to over 120 million dollars inflicted on the Canadian SNC Lavallin firm for the huge delay recorded in the achievement of the Hadjret Ennous power plant in Tipaza province.
Mr NourredineBouterfa has however denied the accusations brought against him.
The Justice apparatus is now well on the way to unraveling all the intricacies of this financial row with the pinpointing of the exact responsibilities of all and sundry in such a somber and money-reeking affair.