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Construction begins on Ghana’s US$12bn petroleum hub

The project carries an estimated total cost of US$12bn. (Image source: The Republic of Ghana Presidency)

The first phase of Ghana’s Petroleum Hub Project was kickstarted by President Nana Addo Dankwa Akufo-Addo breaking the ground at a commemorative ceremony in Nawule, Western Region

The project carries an estimated total cost of US$12bn and is being delivered in order to elevate the West African country’s standing as a key player in the continent’s energy landscape and address its power challenges. Developed in three independent phases, the hub is set to include a 300,000 barrels per day refinery, a petrochemical plant, and extensive storage and port facilities. When operational, it is expected to create approximately 780,000 direct and indirect jobs, help to stabilise the national currency, and stimulate local economic development.

“Today is a very good day for our homeland, Ghana,” remarked the President. “This project promises to be a cornerstone of our nation’s development, ensuring that all Ghanaian homes and industries have access to reliable, affordable, and environmentally sustainable energy.”

He continued by underscoring the strategic importance of the project, before adding that the new facility would not compete with existing refineries in the region, but rather complement them. He also highlighted the environmental considerations taken into the project design, including green buffers to support local fauna and flora.

TCP-UIC Consortium will lead the first phase of the project. This comprises several international partners and has been chosen for its technical expertise and financial capacity to deliver on the project’s timelines. The progression of the initiative is expected to lead to the establishment of the Jomoro Petroleum Hub Development Corporation (JPHDC).

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