The CEO of Zoomlion has refuted media reports a $74m bin distribution contract the company had with government has been terminated.

Media reports were rife the two-year contract was terminated by the Local government ministry for none performance.

However, addressing the media Thursday, Mr. Joseph Siaw-Agyepong explained the contract elapsed following government’s inability to raise funds for the supply of the litter bins to households across the country.

He added the company has since secured a facility from Ecobank for a similar exercise known as “One bin, one household.”

“It [the contract] was under investigation and the CID investigated it and what came out of it, nothing,” the waste management boss told the media.

He added: “Because we have passion for doing this business and solving problems, we went to Ecobank and they gave us 10 million. Naturally it isn’t that we didn’t perform, government didn’t have money to pay. Not that it was terminated, the contract elapsed by itself after two years.

“We didn’t supply because government didn’t have money. There is no contract termination and those headlines are mischievous.”

Mr. Agyepong said the government is yet to serve them with a letter indicating its lack of interest in the project anymore.

The company in October last year announced that it will distribute one million waste bins nationwide to every household, in collaboration with metropolitan, municipal and district assemblies.