Work Set To Commence On Petroleum Hub Project In Jomoro; Agreement For Phase 1 Signed
An agreement for the development of Phase One of the Petroleum Hub Project in the Jomoro Municipality of the Western Region has been signed.
The multi billion dollar project aims at positioning Ghana as the destination for energy trading in the West Africa sub-region.
The agreement, which was signed in Accra on Tuesday, June 18, 2024, is between the Petroleum Hub Development Corporation of Ghana and the TCP-UIC Consortium which comprises Touchstone Capital Group Holdings Ltd., UIC Energy Ghana Ltd., China Wuhan Engineering Co. Ltd., and China Construction Third Engineering Bureau Co. Ltd.
Energy Minister, Dr Matthew Opoku Prempeh, witnessed the signing ceremony.
Specifics
Covering over 20,000 acres of land, the Petroleum Hub, a private sector-led initiative , will secure investments and development of key, ancillary and other infrastructures.
The key infrastructure includes three refineries, five petrochemical plants, 10 million cubic metre storage facilities, Jetties and Port Infrastructure.
The ancillary infrastructure and services include a power plant, rail and road network, Liquified Natural Gas (LNG) terminals, pipelines, water treatment facilities, repairs & maintenance services, nautical services, waste treatment facilities, logistics, security & emergency response centre, residential & commercial facilities, light to medium industrial area and recreational centres.
Significant step
The event marked a significant step towards the vision of President Nana Addo Dankwa Akufo-Addo for a modern, diversified, efficient, and financially sustainable energy economy for Ghana.
Policy direction
Dr Prempeh acknowledged the invaluable contributions of his predecessors and all allied agencies towards the project. He assured that the Ministry of Energy will continue to provide the needed policy direction and guidance to ensure the successful execution of the phase one which will set the perfect stage for the other phases to continue.
