Ghana: Minister Rallies Support For $50 Billion Petroleum Hub Project In Western Region

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Kwabena Okyere Darko Mensah

Chiefs and people of the Western part of the Republic of Ghana have been asked to support the Government of Ghana’s Petroleum hub project by ensuring that there is peaceful environment for the smooth execution of the US$50 billion project.

The project is one of the government’s strategic anchor initiatives that would serve as a new pillar of growth in the Ghanaian economy.

It would accelerate the growth of Ghana’s petroleum downstream sub-sector and make it a major player in the economy and, consequently, ensure development of sustainable value, wealth creation and the progress of the industry.

Ghana: Four New Oil Refineries In The Offing

The petroleum hub, which will occupy a land space of about 20,000 acres, would have four refineries each with a capacity of 150,000bpd, two oil jetties, storage tanks for crude and two petrochemical plants.

The project, which is a private sector led initiative, is expected to be completed by 2030.

Addressing stakeholders in the Western Region at a three-day Inception Launch and Data Validation Workshop for the development of ‘Master Spatial Plans’ for the project at the Bonyere Traditional Area, the Western Regional Minister, Kwabena Okyere Darko Mensah noted that investments in the petroleum hub project are expected to transform the economy through export tax of about $1.56 billion by 2030, increase GDP by about 70 percent and create jobs in excess of 780,000.

According to the Minister, indigenes from the Western Region need to hone their skills and capacities, reposition themselves to enable them participate meaningfully in this wealth creation, along the value chain of petroleum downstream sector and create synergies as indigenous/local businesses.

Okyere Darko Mensah tasked the participants to contribute their quota to help inform the government in shaping policies which will trigger growth and put Ghana in a very strategic economic position in the West African sub-region and on the global stage.

“I entreat you to participate effectively in the workshop and make your inputs known. I will also entreat the chiefs and people of this area to ensure that the peaceful environment of the project is maintained. We, at the Regional Coordinating Council, will continue to play our coordinating, monitoring and evaluation role to ensure that this project is delivered in record time for the benefit of Ghana as a whole,” the Minister assured.

Source: www.energynewsafrica.com

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