Phase one works on Ghana’s Petroleum Hub Project has commenced. President Nana Addo Dankwa Akufo-Addo inaugurated the project with an aim of strengthening the country’s energy sector.
The project, with an estimated total cost of US $12bn, spans over 20,000 acres, the project will feature; three refineries, five petrochemical plants, 10 million cubic meters of storage facilities, jetties and port infrastructure. Ancillary services will include: power plant, rail and road networks, LNG terminals, pipelines, water treatment facilities, waste treatment facilities, logistics and security services, residential and commercial facilities.
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Economic boost
Other services and infrastructure such as a state-of-the-art laboratory for petroleum products, fabrication workshop, metering and calibration services, equipment supplies, logistics services, remote monitoring & diagnostics, lubricant storage & supply, and inspection & certification services will also be available.
The first phase will involve construction of a 300,000 barrel per day (bpd) refinery, a 90,000 bpd petrochemical plant, a 3 million cubic meter storage facility, Jetty and port infrastructure.
Upon completion in 2036 the hub is expected to significantly boost Ghana’s economy by attracting international oil trading and storage companies. The project is estimated to create over 780,000 direct and indirect jobs.
The TCP-UIC Consortium, a coalition of international partners, has been selected to lead the first phase due to its technical and financial capabilities. The project will eventually lead to the creation of the Jomoro Petroleum Hub Development Corporation (JPHDC) to oversee its operation and management.
