Ghana’s Petroleum Hub Development Corporation (PHDC) has signed a $28 billion Build-Own-Operate (BOO) agreement with a South Korean, Emirati and Malian consortium led by Global Sphere to develop a major refining and petrochemical complex at Jomoro in the Western Region, aiming to reduce fuel imports and establish the country as a regional energy-processing hub.
The second-phase development includes a 300,000-barrel-per-day refinery, two petrochemical plants, four million cubic metres of storage capacity and a multi-berth marine terminal. Construction is scheduled to begin in the first quarter of 2027, with the five-year development programme targeting completion by early 2032.
The project aims to expand domestic refining, strengthen industrial supply chains, create jobs and increase petroleum-product exports across West Africa.
The agreement advances Ghana’s industrial ambitions, although delivery will depend on securing financing, meeting construction deadlines and establishing sufficient regional demand to sustain the investment.
Related Articles:
Vitol, Tanzania and Uganda Plan Tanga Energy Hub as East Africa Diversifies Fuel Route
Egypt–Eritrea Energy: Cairo Launches $23m Solar Projects to Support Power Supply
Read also:
Gen Z Never Lived the 2000s. So Why Is ItBuying Them Back?
Pharco Deepens Saudi Footprint While Studying New African Manufacturing Bases
