W/R: Prez cuts sod for phase 1 of Petroleum Hub project

President Nana Addo Dankwa Akufo-Addo has cut the sod for work to commence on the first phase of the Petroleum Hub project at Nawule, in the Jomoro Municipality of the Western Region. 

This follows an agreement of US$12 billion signed between the Petroleum Hub Development Corporation (PHDC) and TCP-UIC Consortium in Accra earlier this year. 

The first of three phases of the Integrated Petroleum Complex would consist of a refinery with a capacity of 300,000 barrels per day (bpd), a cutting-edge petrochemical plant with 90,000 bpd capacity, 3,000,000 cubic meters of storage tanks, and a jetty with port infrastructure. 

The project is being undertaken by the TCP-UIC Consortium, made up of Touchstone Capital Group Holdings Limited, UIC Energy Ghana Ltd., China Wuhan Engineering Co. Ltd., and China Construction Third Engineering Bureau Co. Ltd. 

Speaking at a ceremony to cut the sod, President Akufo-Addo said the project demonstrated the government’s commitment to forging strategic partnerships that would drive the country’s energy sector forward. 

He said: “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 noted that upon completion, the project would complement and not compete with existing oil refineries in Ghana and the West African region, such as the Tema Oil Refinery (TOR), Sentuo, and Dangote. 

“We envisage a facility equipped with cutting-edge technology, prioritising environmental sustainability with green buffers, supporting local flora.” President Akufo-Addo said. 

According to him, the project would create some 780,000 direct and indirect jobs, help stabilise the currency, stimulate the local economy, and position Ghana as Africa’s premium petroleum and petrochemical hub.  

To ensure a ready workforce of Ghanaians for the Hub, the President stated that he had directed the PHDC Board and the Ministry of Energy to train about 200,000 skilled, semi-skilled, and unskilled Ghanaians in preparation for the project’s takeoff, most of whom should come from the Jomoro enclave. 

He also directed the Ministry of Finance to release an amount of GH¢200 million to commence payment of land compensation to communities whose lands were affected during the compulsory acquisition of land by the government for the project. 

President Akufo-Addo expressed gratitude to the chiefs and people of Jomoro for their unwavering cooperation and called on all stakeholders to unite in making this vision a reality for current and future generations.  

Mr. Herbert Krapa, the Minister of State at the Ministry of Energy, expressed appreciation to all stakeholders who had contributed towards the development of the Hub. 

He asked the developers to use sustainable practices in the development of the Hub, saying, “The goal is not just to meet the energy demands of today, but to do so in a way that preserves our environment for future generations.” 

Mr. Charles Owusu, the Chief Executive Officer (CEO) of the Petroleum Hub Development Corporation, said the Hub symbolised progress, innovation, and a brighter future for all. 

He called for hard work and collaboration towards the project, saying, “I see connecting unlikely dots in life as a calling for building legacies with hard work, patience, and collaboration without compromising on precision and speed.” 

Mr. Kwabena Okyere Darko-Mensah, the Western Regional Minister, said the ground-breaking for the commencement of work on the establishment of the Petroleum Hub marked a significant milestone in the oil and gas sector in the country. 

The paramount chief of the Western Nzema Traditional Area, Awulae Annor Adjaye III, welcomed the project and thanked the President for his vision to develop the Petroleum Hub, while calling on all stakeholders to give their unwavering support for its completion.

Source: GNA