Published: 30 Dec 2016 Source: University Relations Office (URO)
Professor Kwasi Obiri-Danso, Vice Chancellor, KNUST (right) and Rev. George Nimako, Leader of the SIC delegation
SIC Insurance Company Limited (SIC) has signed a memorandum of understanding (MoU) with Kwame Nkrumah University of Science and Technology at the Council Chamber on 20th December, 2016. Professor Kwasi Obiri-Danso and Reverend George Nimako signed the MoU on behalf of their respective institutions.
The agreement is for SIC to provide financial assistance to KNUST to rehabilitate the washing bay section of its Transport Department. The scope of work under the project covers the procurement of washing bay equipment, the construction of a fence wall, the replacement of roofing sheets, the construction of washing pits and electrical works.
The estimated cost of the project which will be in two phases is eighty-four thousand, three hundred and seventy-six cedis, eighty-six pesewas (GH¢84,376.86).
Professor Kwasi Obiri-Danso, Vice Chancellor, showed gratitude to SIC for the step taken to help build KNUST. He stated that the University as a big brand was pleased to house a modern car-wash to meet the needs of both staff and students.
Prof. Obiri-Danso noted that SIC and the University has had a fruitful long-standing relationship and with the signing of the MoU, the relationship will be deepened. He assured the delegates from SIC that they would be given the opportunity to introduce more of their products to the university community.
Rev. George Nimako, leader of the SIC delegation, expressed his company’s appreciation to KNUST for the opportunity given them and hoped that the MoU would be to the mutual benefit of both parties. Rev. Nimako indicated that KNUST had kept faith with his outfit by making SIC their preferred insurance partner.
According to the agreement, the project is to be jointly supervised with KNUST selecting a contractor. KNUST will also provide SIC space to mount a desk to operate an agency for underwriting insurance within the premises of the washing bay.
SIC Insurance Company shall as well brand the washing bay with its corporate branding items and ensure that the branding items are maintained and replaced as and necessary to keep them in a fair and decorative state.
The various phases of the project is to be completed by 31st May, 2017. SIC presented fifty thousand cedis (GH¢50,000) for the commencement of the project.