By Edward Dankwah GNA
Accra, July 08, GNA– The 24-Hour Economy and Accelerated Export Development Authority (24H+) has signed a Memorandum of Understanding (MoU) with Petrochemical Holdings GmbH (PCH) to establish two strategic industrial projects aimed at boosting manufacturing, exports and job creation in Ghana.
The projects comprise an integrated chemical production manufacturing complex for sodium cyanide and chlor-alkali/caustic soda, and a gold tailings recovery and environmental remediation platform.
A statement issued in Accra said the proposed chemical production complex represented an estimated investment of about US$700 million, underscoring the scale of investment being attracted under the Government’s 24-Hour Economy Programme.
The statement said the projects would be implemented through the GreenRock Petrochemical Ghana Limited (PCH Ghana), a joint venture between GreenRock, a gulf-region company, and Petrochemical Holdings GmbH, an international chemical industry group with more than 30 years’ experience in large-scale petrochemical and industrial projects.
Under the MoU, PCH will provide technical expertise for a structured gold recovery programme focused on identifying suitable sites, recovering economic value from gold tailings, and undertaking environmental rehabilitation.
The initiative is expected to improve environmental security, protect water bodies and promote more responsible mining practices.
It said the projects aligned with President John Dramani Mahama’s industrial transformation agenda by strengthening local production, reducing import dependence, creating value across the mining supply chain and supporting long-term economic development.
It said the chemical production complex would enable Ghana to produce sodium cyanide and caustic soda locally instead of relying on imports.
The facility was also expected to supply the wider West African market, positioning Ghana as a regional hub for critical mining and industrial chemicals while reducing exposure to global supply chain disruptions.
Using salt as its primary feedstock, the complex would also produce chlor-alkali products for water treatment, disinfection and other industrial applications.
Mr. Goosie Tanoh, the Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, said the partnership would accelerate Ghana’s industrialisation, export promotion and sustainable job creation.
He invited local and international investors and development partners to support President Mahama’s 24-Hour Economy Transformation Agenda to achieve the country’s industrial development objectives.
Mr. Iakov Goldovskiy, the Chief Executive Officer of Petrochemical Holdings GmbH, said the projects had the potential to attract significant foreign direct investment while creating jobs, expanding industrial capacity and promoting sustainable export-led growth.
He said the partnership would strengthen Ghana’s position as a regional hub for mining chemicals, responsible resource recovery and value-added industrial production.
He said the next phase of the partnership would involve feasibility studies, regulatory and environmental approvals, the signing of definitive agreements and final investment decisions for both projects.
GNA
Edited by Benjamin Mensah