Prez Akufo-Addo breaks ground on $12bn Petroleum Hub Project
President Nana Addo Dankwa Akufo-Addo has officially launched the first phase of the ambitious Petroleum Hub project at Nawule in the Jomoro Municipality of the Western Region. The groundbreaking ceremony follows a $12 billion agreement signed earlier this year between the Petroleum Hub Development Corporation (PHDC) and the TCP-UIC Consortium in Accra.
The first phase of the Integrated Petroleum Complex will feature a 300,000 barrels-per-day (bpd) refinery, a state-of-the-art petrochemical plant with a 90,000 bpd capacity, 3,000,000 cubic metres of storage tanks, and a jetty with port infrastructure. The project is spearheaded by the TCP-UIC Consortium, which includes Touchstone Capital Group Holdings Limited, UIC Energy Ghana Ltd, China Wuhan Engineering Co. Ltd, and China Construction Third Engineering Bureau Co. Ltd.
At the sod-cutting ceremony, President Akufo-Addo emphasized the government’s commitment to establishing strategic partnerships that will advance Ghana’s energy sector. He stated, “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.”
The President also highlighted that the new complex would complement, not compete with, existing oil refineries in Ghana and the wider West African region, such as the Tema Oil Refinery (TOR), Sentuo, and Dangote. He noted that the facility would be equipped with cutting-edge technology and would prioritize environmental sustainability, including green buffers that support local flora.
Once completed, the Petroleum Hub is expected to create approximately 780,000 direct and indirect jobs, stabilize Ghana’s currency, stimulate the local economy, and position the country as Africa’s leading petroleum and petrochemical hub. To prepare a skilled workforce for the Hub, the President has directed the PHDC Board and the Ministry of Energy to train 200,000 skilled, semi-skilled, and unskilled Ghanaians, with a focus on residents of the Jomoro enclave.
Additionally, President Akufo-Addo instructed the Ministry of Finance to release GH¢200 million for land compensation to communities affected by the compulsory acquisition of land for the project. He expressed gratitude to the chiefs and people of Jomoro for their cooperation and urged all stakeholders to work together to bring this vision to fruition for the benefit of current and future generations.
Energy Minister Herbert Krapa expressed appreciation to all stakeholders involved in the development of the Hub and urged the developers to adopt sustainable practices that preserve the environment for future generations. Charles Owusu, CEO of the Petroleum Hub Development Corporation, described the Hub as a symbol of progress and innovation, calling for hard work, patience, and collaboration in the project’s execution.
Western Regional Minister Kwabena Okyere Darko-Mensah lauded the groundbreaking as a significant milestone in Ghana’s oil and gas sector. Awulae Annor Adjaye III, paramount chief of the Western Nzema Traditional Area, welcomed the project, thanked the President for his visionary leadership, and called for unwavering support from all stakeholders to ensure the project’s successful completion.
