Category: Business
Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has declared that Ghana is about to enter into a significant contract that will see the long delayed Petroleum Hub Project at Jomoro in the Western Region of the country take off.
Dr. Jinapor during the meeting with traditional leaders and stakeholders in the area said that discussions on the agreement were in an advanced stage, with a high level of confidence that the project would soon enter the implementation phase.
The Petroleum Hub Project is one of the flagship industrial projects in Ghana which will put the country at the hub of petroleum and petrochemical processing in West Africa. It is anticipated that the project will generate billions of dollars worth of investments, provide thousands of direct and indirect employment opportunities, and boost the energy security of Ghana. Dr. Jinapor also talked about issues with slow pay to landowners whose land is in the project site, which is 12,365 acres. He said the Jomoro Traditional Council was willing to consider alternative arrangements for compensation in order to proceed with the project, while protecting the interests of affected communities.
The minister said the government was dedicated to the fair and transparent compensation process, as required by the law. He said there continues to be ongoing communication between chiefs, landowners and residents that has kept the confidence level with the project intact through the delays.
The proposed petroleum hub will consist of oil refineries, petrochemical plants, storage terminals and other infrastructure to bolster Ghana’s downstream petroleum industry and enhance the country’s competitiveness in the African energy market.
Government’s commitment to involve local communities throughout the implementation process was welcomed by traditional leaders. They highlighted the need to strike the right balance between national development and the rights and livelihoods of landowners.
The Petroleum Hub Project is one of the boldest industrial projects ever undertaken in Ghana, according to economic experts. They feel that if implemented well, it will promote economic growth, create export revenue and make Ghana a regional petroleum refining and petrochemicals hub.
The government continues to work hard to finish remaining agreements and regulatory matters so that construction can proceed as planned. Authorities have pledged to give investors and residents assurances that stakeholder engagement and its impact on the environment will be at the heart of the implementation of the project.
By: Gertrude Darkoa