Ghana Unveils Plans to Build Petroleum Hub

Ghana has unveiled plans to develop a $12 billion petroleum hub in Jomoro, Western Region, aiming to enhance its role in Africa’s energy sector. The project, launched in August 2024, by Ghana’s President Nana Addo Dankwa Akufo-Addo, is structured into three phases, with completion targeted by 2036.

The first phase involves constructing a 300,000 barrels-per-day refinery, a petrochemical plant, storage facilities with a capacity of 3 million cubic meters and port infrastructure.  The project is managed by the state-owned Petroleum Hub Development Corporation (PHDC) and executed by the TCP-UIC Consortium, comprising Touchstone Capital Group, UIC Energy Ghana, China Wuhan Engineering and China Construction Third Engineering Bureau.

Upon completion, the hub is expected to house three refineries with a combined capacity of 900,000 barrels per day, five petrochemical plants, and storage facilities totaling 10 million m³.  The project aims to create approximately 780,000 direct and indirect jobs and contribute to a projected 70% increase in Ghana’s GDP by 2036.

The government has also allocated funds for land compensation to affected communities and plans to train 200,000 Ghanaians to support the project’s workforce needs.