President Akufo-Addo has officially launched the first phase of the Petroleum Hub Development project in Nawule, located in the Jomoro District of the Western Region.
This major initiative, following a $12 billion agreement signed in 2024 between the Petroleum Hub Development Corporation and the TCP-UIC consortium, aims to construct a refinery with a capacity of 3,000 barrels per day and create approximately 780,000 jobs.
The project has progressed despite local concerns regarding inadequate consultation and the substantial 20,000-acre area allocated for its development.
During the sod-cutting ceremony, President Akufo-Addo described the project as a pivotal move towards ensuring reliable and sustainable energy access for both the public and the industry.
“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.
Additionally, President Nana Akufo-Addo highlighted that phase one of the Petroleum Hub project offers benefits extending beyond Ghana’s borders.
“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.
“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 further explained the selection of the consortium and their capabilities, stating, “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”.
The Chief Executive Officer of the Petroleum Hub, Charles Owusu, urged everyone to support the project, emphasizing that it represents 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.
The TCP-UIC consortium responsible for developing this phase includes Touchstone Capital Group Holdings Ltd., UIC Engineering Ltd., China Haudian Engineering Company Ltd., and China Construction Tech Engineering Bureau Company Ltd.
However, some residents of the Nawowle area, where 20,000 acres of land have been acquired for the project, have expressed concerns about the size of the land, compensation, and Corporate Social Responsibility issues. As a result, they have opposed the President’s sod-cutting ceremony.