President Akufo-Addo cuts sod for phase-one $12bn petroleum hub project at Jomoro in the Western region

President Nana Akufo-Addo has officially launched the first phase of the Petroleum Hub Development project in Nawule, within the Jomoro District of the Western Region.

The ambitious project, set to include a refinery with a capacity of 3,000 barrels per day among other facilities, is expected to generate approximately 780,000 jobs.

This milestone follows the signing of a $12 billion agreement in 2024 between the Petroleum Hub Development Corporation and the TCP-UIC consortium. However, the project has sparked concerns among local communities, particularly regarding the lack of consultation and the extensive 20,000-acre land acquisition.

During the sod-cutting ceremony, President Akufo-Addo highlighted the significance of the project in ensuring sustainable energy access for all Ghanaians. He explained that the project, divided into three phases, will establish a petrochemical industrial park that complements existing refineries in Ghana and across West Africa.

“This project will capture and serve the African continental free trade area market, valued at some $3.4 trillion. It is designed to prioritize environmental sustainability with green buffers to support local flora and fauna. Additionally, it will create numerous direct and indirect jobs, stabilize our currency, and position Ghana as Africa’s premier petroleum and petrochemical partner,” President Akufo-Addo stated.

Acknowledging the concerns of the local population, the President proposed renaming the initiative the “Jomoro Petroleum Hub Development Corporation” and suggested the project’s headquarters be located in Jomoro. He also directed the training of 200,000 Ghanaians, predominantly from the Jomoro area, to prepare them for the project.

The President also defended the selection of the TCP-UIC consortium, comprising Touchstone Capital Group Holdings Ltd., UIC Engineering Ltd., China Huadian Engineering Company Ltd., and China Construction Tech Engineering Bureau Company Ltd., citing their technical and financial capabilities.

Charles Owusu, CEO of the Petroleum Hub, echoed the project’s transformative potential, emphasizing its role in job creation, technological advancement, and the development of Ghana’s petroleum and petrochemical sectors. He called on all stakeholders to support the project despite the concerns raised by some local residents.

Meanwhile, affected residents in the Nawule area, where 20,000 acres of land have been allocated for the project, have expressed opposition due to issues related to land size, compensation, and Corporate Social Responsibility.