President Nana Addo Dankwa Akufo-Addo has officially commenced work on the first phase of the ambitious Petroleum Hub project at Nawule, located in the Jomoro Municipality of the Western Region. This follows the signing of a $12 billion agreement between the Petroleum Hub Development Corporation (PHDC) and the TCP-UIC Consortium earlier this year.
The project, which will be executed in three phases, is set to transform Ghana’s energy landscape. The first phase will feature a 300,000 barrels per day (bpd) refinery, a state-of-the-art petrochemical plant with a capacity of 90,000 bpd, storage tanks with a capacity of 3 million cubic metres, and a jetty equipped with advanced port infrastructure.
The TCP-UIC Consortium, comprising Touchstone Capital Group Holdings Limited, UIC Energy Ghana Ltd, China Wuhan Engineering Co. Ltd, and China Construction Third Engineering Bureau Co. Ltd, will undertake the development of the Integrated Petroleum Complex.
During the sod-cutting ceremony, President Akufo-Addo stressed the government’s commitment to forging strategic partnerships to advance Ghana’s energy sector.
“Today, as we gather to commence the implementation of this project, we have taken a bold step towards ensuring that all Ghanaian homes and industries have access to reliable, affordable and environmentally sustainable energy.”
“This project will complement, rather than compete with, existing oil refineries in Ghana and the West African region, such as the Tema Oil Refinery (TOR), Sentuo, and Dangote,” the President noted.
The President announced that the project is expected to generate approximately 780,000 direct and indirect jobs, stabilize the national currency, stimulate the local economy, and position Ghana as a leading petroleum and petrochemical hub in Africa.
To prepare a skilled workforce for the Hub, President Akufo-Addo directed the PHDC Board and the Ministry of Energy to train about 200,000 Ghanaians, with a focus on recruiting from the Jomoro enclave. He also instructed the Ministry of Finance to release GHC 200 million to begin land compensation payments to communities affected by the compulsory land acquisition for the project.
President Akufo-Addo expressed his gratitude to the chiefs and people of Jomoro for their continued support and called on all stakeholders to work together to realize this vision for the benefit of current and future generations.
Herbert Krapa, Minister of State at the Ministry of Energy, commended all stakeholders involved in the project’s development and urged the developers to prioritize sustainable practices to protect the environment for future generations.
Charles Owusu, CEO of the Petroleum Hub Development Corporation, described the Hub as a symbol of progress and innovation. He called for dedication and collaboration in building this legacy while maintaining precision and speed.
Western Regional Minister, Kwabena Okyere Darko-Mensah, hailed the groundbreaking event as a significant milestone for Ghana’s oil and gas sector. Awulae Annor Adjaye III, Paramount Chief of the Western Nzema Traditional Area, welcomed the project and thanked the President for his vision, urging all stakeholders to support the completion of the Petroleum Hub.
By: Ekow Annan/newsalertgh.com
