Akufo-Addo of Ghana breaks ground for the Development of Ghana’s Integrated

By Abdul Rahman Bangura-

Photo Credit: Industry

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The first phase, of the project after completion , will contain of a
refinery with a capacity of 300,000 barrels per day (bpd), a 90,000bpd capacity petrochemical plant, 3 million cubic metres (m3) storage tanks, a jetty with port infrastructure valued at $12 billion.

The growth of the Hub, which is private sector led is being inducted by TCP-UIC Consortium which consists of Touchstone Capital Group
Holdings Ltd., UIC Energy Ghana Limited.

China Wuhan Engineering Co. Ltd., and China Construction Third Engineering Bureau Co. Ltd. with the government of Ghana providing
basic infrastructure such as rail, roads, utilities, as well as monetary and regulatory tips that are needed for the operationalization of the
Hub.

The Petroleum Hub Development Corporation’s drive to the resilience is slated by the abidance to the highest-rated environmental standards, glancing to minimize ecological stature while maximizing financials windfalls.

This commitment aligns with the Corporation’s broader vision of ‘Powering Progress’ through responsible energy practices that prioritize safety, integrity, and respect for humanity.

Speaking at the sod cutting ceremony, President Nana Addo Dankwa Akufo-Addo accentuated few monetary benefits of the Hub saying
“This project is not only offering at least 780,000 direct and indirect jobs to our people but also to help stabilize our cedi, help partially
answer the question of after Free SHS and TVET, what next for our graduates; stimulate our local economic development, and position
Ghana as the first Petroleum and Petrochemical Hub in Africa upon completion”.

“The development of the project being private sector led, hinges on an export driven strategy to seize and serve the AfCFTA market whose current size is at about $3.4 trillion” he noted.

In a bid to assure a vital workforce of Ghanaians for the Hub, the President directed the Board and the Ministry of Energy to train at least 200,000 skilled, semi-skilled and unskilled Ghanaians from now till December and beyond. He same directed the Ministry of Finance to release an amount of GH¢ 200 million to start payment of land compensation with immediate effect to affected communities whose lands were affected during the compulsory acquisition of land by government for the project.

He proposed a consideration on the amendment of the PHDC Act, 2020 (Act 1053) to rename PHDC as Jomoro Petroleum Hub Development Corporation (JPHDC)with its headquarters in Jomoro.

The Minister of State at the Ministry of Energy – Herbert Krap referenced former Energy Ministers and stakeholders whose contributions towards the development of the Hub is being realised today. He went on to assist the usage of sustainable practices in the growth of the Hub saying the aim is not just to meet the energy needs of today but to do likewise that preserves our environment for future generations.

Delivering his remarks, the CEO of Petroleum Hub Development Corporation, Charles Owusu stated the symbolic qualities of the Petroleum Hub saying it characterizes progress, innovation, and a brighter future.

“It is a project that will serve not only our current generation but also future ones, leaving a lasting legacy” he said.

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.”

The Paramount Chief of the Western Nzema Traditional Council, Awulae Annor Adjaye III welcomed the project and thanked the
President for his vision to develop the Petroleum Hub and called on all to give their unwavering support for its completion.

Being the first of its kind in Africa, the Petroleum Hub project is expected to be completed within five years setting the foundation for an unprecedented journey ahead in the energy sector.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent