Ghana has received yet another significant boost in its vision of establishing a state-of-the-art petroleum and petrochemical hub following the signing of a Memorandum of Understanding (MoU) between the Petroleum Hub Development Corporation (PHDC) and leading Egyptian firm, Chemexa Petrochemical Trading, together with its local partner, Afdat Group of Companies.
The MoU, signed on Tuesday, October 14, 2025, provides the preliminary framework enabling Chemexa and Afdat to participate in the project by constructing storage tanks with a cumulative capacity of seven million cubic meters.
In his brief remarks at the signing ceremony, the Acting Chief Executive Officer of PHDC, Dr. Toni Aubynn, described the occasion as a “special” one for both the Corporation and the government in their determination to advance the Petroleum Hub project.
Dr. Aubynn highlighted how the agreement aligns with President John Dramani Mahama’s vision of generating sustainable employment and strengthening Ghana’s energy security through the development of the Petroleum Hub.
He noted that the Egyptian company’s commitment further deepens the longstanding bilateral relations between Ghana and Egypt, demonstrating the readiness of African nations to support one another in driving the continent’s development.
“This is a very special day for the Petroleum Hub because this MoU is very important for us. The President and our Energy Minister are determined to develop this project—which will be the first of its kind in Africa—and they will be very pleased with this development,” he remarked.
He emphasised the project’s transformative potential for Ghana’s economy, describing its impact as “immeasurable.”
Dr. Aubynn also reaffirmed Ghana’s status as a prime investment destination, citing its strategic geographic location, stable democracy, and investor-friendly policies as key factors that make it the top choice in the sub-region.
Khaled Sawaby, Owner and General Manager of Chemexa Petrochemical Trading, lauded Ghana as an investment haven, commending the country’s hospitable and courteous people.
He expressed his company’s admiration for Ghana’s ambitious plan to lead the sub-region’s energy sector and pledged full commitment to supporting the initiative’s success.
Mr. Sawaby reassured the PHDC of his firm’s dedication to the agreed roadmap, vowing to ensure the MoU transitions from concept to concrete implementation.
This MoU—achieved after several weeks of intensive negotiations—is the third signed under Dr. Toni Aubynn’s leadership, following similar agreements with Mannschaft Engineering and Surbana Jurong Group for various components of the Petroleum Hub project.
Other attendees at the ceremony included Halimatu Sadia Abdulai and Onasis Rosely, Deputy Chief Executives of PHDC; Enoch Larbi Aboagye, Director of Legal; and Kwabena Owusu-Abrokwa, Director of Operations and Technical.
Source: https://energynewsafrica.com
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