President Nana Addo Dankwa Akufo-Addo has officially broken ground for the first phase of the Petroleum Hub Development project in Nawule, located in the Jomoro District of the Western Region.
The project aims to establish a refinery with a capacity of 3,000 barrels per day and is expected to generate 780,000 jobs.
This milestone follows the signing of a $12 billion agreement between the Petroleum Hub Development Corporation and the TCP-UIC consortium.
However, concerns have been raised by local communities regarding the lack of consultation and calls to reduce the 20,000-acre plot allocated for the project.
Speaking at the sod-cutting ceremony, President Akufo-Addo highlighted that this development marks a significant step toward ensuring sustainable energy access for both the citizens and the industry.
“This is the first phase of our three-phase hub, estimated to cost some $12 billion. It is expected to result in the construction of (1)a 3000 barrel per day refinery, (2) 300,000 barrel of storage tanks, (3) petrochemical plant, (4) jetty and port infrastructure, (5) offer base and auxiliary infrastructure and (6) social amenities.
“In our strategic approach, we have divided this project into three independent phases. Each phase, upon completion, will serve as a standalone hub, forming collectively a petrochemical industrial park sprawling across some 20,000 acres.
“This method ensures that no single consortium or investor can halt the project’s progress.
Upon conclusion, this project will complement, not compete with, existing refineries in Ghana and the West African region such as TOR, Sentuo and Dangote,” he stated.
