The Petroleum Hub Development project in Nawule, Jomoro District, Western Region, has received approval from President Nana Akufo-Addo to begin construction on its first phase.
Project construction is anticipated to create jobs for 780,000 people, including the construction of a refinery with a 3,000 barrel per day capacity.
The TCP-UIC consortium and Petroleum Hub Development Corporation signed a $12 billion project agreement in 2024, but local residents objected, citing lack of participation and the necessity to shrink the 20,000-acre site they had bought for the project.
Speaking at the sod-cutting ceremony, President Akufo-Addo said it was a brave move to guarantee that the public and business sector have access to sustainable electricity.
“We take a bold step towards ensuring that all Ghanaian homes and industries have access to reliable, affordable and environmentally sustainable energy…It is expected to result in the construction of a 3,000-per-day refinery, three hundred thousand cubic metres of storage tanks, jetty and port infrastructure, offer base and auxiliary infrastructure and six 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 project will complement not compete with existing refineries in Ghana and in the West African region,” he said.
President Nana Akufo-Addo mentioned that phase one of the Petroleum Hub project extends beyond Ghana while also discussing other advantages of the initiative.
“It is designed to capture and sell to the African continental free trade area market, which is valued currently at some 3.4 trillion United States dollars. We envisage a facility equipped with cutting-edge technology prioritizing environmental sustainability with green buffers supporting local fauna and flora.
It will be a benchmark for crude and petroleum product pricing in Africa.”
“This project promises to create some 780,000 direct and indirect jobs, help stabilize our currency, stimulate local economic development and position Ghana as Africa’s premier petroleum and petrochemical partner. I am confident this hub will be a secure, innovative workplace, adhering to the highest industry standards.”, he explained.
The President ordered a name change for the project, citing the headquarters as well as skill development for locals, in the middle of the lingering concerns expressed by the residents about the project and the necessity for the project to have their approval.
“I propose that the headquarters of the Petroleum Hub Development Corporation be located in Jomoro and that it should be renamed the Jomoro Petroleum Hub Development Corporation. To support the project, it is crucial to have a skilled workforce ready.”
“I directed the Ministry of Energy and the Board to ensure the training of some 200,000 skilled, semi-skilled, and unskilled Ghanaians in preparation for the project take-off most of whom shall come from the Jomoro enclave.“, he directed.
The President also justified the choice of the consortium and their capacity, saying, “The TCP-UIC consortium, chosen for the first phase, possesses the technical expertise and financial strength to meet our regulated timelines and standards. I urge everyone involved to leave no stone unturned in making this hub a model not only for Ghana but also for the entire world.”
“To our esteemed investors, TCP-UIC consortium, China Huadian Engineering Company Limited, China Construction Tech Engineering Bureau Company Limited, Touchstone Capital Group Holdings Limited, UIC Energy Ghana Limited, and Touchstone UIC Ghana Investments Limited, I assure you of government support in this exercise”, he noted.
The Chief Executive Officer of the Petroleum Hub, Charles Owusu on his part called for all to support the project as it is a game-changer.
“It is a game-changer in providing jobs, promoting technological transfer, and positioning Ghana as a centre for refining and trading of petroleum and petrochemical products and services. Equally balancing objectives for economic growth, environmental management, and human capital development…It is my firm belief that placing an egg on a pea is a possibility worth exploring at all times, if one aims to translate a dream into a reality.“, he said.
Touchstone Capital Group Holdings Ltd., UIC Engineering Ltd., China Haudian Engineering Company Ltd., and China Construction Tech Engineering Bureau Company Ltd. make up the TCP-UIC consortium, which is in charge of the phase’s development.
As for the President’s sod-cutting, some impacted residents of the Nawule enclave, whose 20,000-acre plots of land were bought for the project, objected, citing concerns about the size of the plot, compensation, and issues related to corporate social responsibility.