By Daniel Adu Arko
Accra, Aug. 4, GNA – The Petroleum Hub Development Corporation (PHDC) and Touchstone Capital Partners (TCP) have reaffirmed their commitment to developing the US$12 billion Lot One of Ghana’s Petroleum Hub Project.
The partners said the project was on course to establish Ghana as a major energy and industrial hub in Africa through an integrated ecosystem of energy, manufacturing, logistics, finance and technology.
Mr Niccolò Ravano, Vice President of Touchstone Capital Partners, said the consortium remained focused on delivering the Lot One development and was implementing measures to ensure the successful execution of the project.
He said the vision went beyond the construction of energy infrastructure to creating an industrial ecosystem that combined energy, finance, logistics, manufacturing, technology and human capital development.
Mr Ravano said the proposed Ghana Integrated Energy and Industrial Hub had the potential to serve as a model for sustainable industrial development on the continent.
The reaffirmation follows a joint statement issued by PHDC and TCP to assure stakeholders of continued investor confidence in the project amid concerns about its progress.
Dr Toni Aubynn, Chief Executive Officer of PHDC, described the Petroleum Hub as one of Africa’s largest industrial development initiatives, with the potential to transform Ghana’s energy and industrial sectors.
He said the project was expected to improve energy security, increase domestic refining capacity, expand exports, attract foreign direct investment, promote industrialisation and deepen regional economic integration.
Dr Aubynn said the development would also create employment opportunities during construction and operations while supporting technology transfer, local content participation, skills development and the growth of Ghanaian businesses.
He said the project could deliver broader socio-economic benefits, including support for education, healthcare, technical training and community development, subject to phased implementation and investment commitments.
The partners said the integrated industrial complex would bring together petroleum, petrochemicals, logistics, manufacturing, digital infrastructure, finance and social services to support sustainable economic growth.
They said independent projections indicated that the fully completed programme could generate about 780,000 direct and indirect jobs by 2036, while creating additional opportunities across local supply chains, businesses and regional trade.
The Petroleum Hub Project, to be located at Jomoro in the Western Region, is expected to comprise three refineries with a combined capacity of 900,000 barrels per stream day, five
petrochemical plants with a minimum combined capacity of 90,000 barrels per stream day, storage facilities with a cumulative capacity of 10 million cubic metres and at least two jetties for petroleum imports and exports.
The project is expected to strengthen Ghana’s refining capacity, enhance regional energy security and consolidate the country’s position as a petroleum and petrochemical hub in Africa.
GNA
Reporter: Daniel Adu DarkoÂ
[email protected]Â