The President, Akufo-Addo has cut the sod for work to begin on the first phase of the multi-billion-dollar Petroleum Hub Development Project at Nawole in the Jomoro District of the Western Region. The project comprises refineries, petrochemical plants and port infrastructure.
It seeks to be the leading integrated petroleum and petrochemical complex to add value to the upstream and downstream oil and gas value chain in Africa. The project, which is estimated to sit on twenty thousand acres of land on several communities in the Jomoro District, will have three refineries, five petrochemical plants, storage tanks, jetties and port infrastructure.
It will also have ancillary infrastructure for transportation, settlement and utilities among others. This follows the signing of a twelve-billion-dollar agreement between the Petroleum Hub Development Corporation, PHDC and the TCP-UIC Consortium in Accra.
The consortium comprises Touchstone Capital Group Holdings, UIC Energy Ghana Limited, China Wuhan Engineering Company and China Construction Third Engineering Bureau. President Akufo-Addo said the project is in line with his vision of ensuring a diversified, efficient and financially sustainable energy that will ensure all Ghanaian homes and industries have access to adequate, reliable, affordable and environmentally- sustainable energy for accelerated growth.
The Minister of State at the Ministry of Energy, Hebert Krappa said the Petroleum Hub will reposition Ghana in the global energy ecosystem, facilitate exports and thus generate revenue. Besides, it will address Ghana’s energy demand in a sustainable manner.
The Western Regional Minister, Mr Kwabena Okyere Darko-Mensah said the Regional Coordinating Council will provide all the needed support to see the project through.
The Paramount Chief of the Western Nzema Traditional Area, Awule Annie, said the people are eagerly waiting for the anticipated benefits they will derive from the project and will therefore cooperate with the operators.
