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Ghana is set to Construct a $60 Billion Petroleum Hub An Expensive mega project in Ghana. The petroleum hub project which is part of the strategic development initiatives of the government to promote socio-economic growth and is targeted at strategically positioning Ghana as a hub for the petroleum downstream industry in the West African sub-region and the world at large.

Petroleum Hub projects will be designated as a free zone area to be situated within the Bonyere Traditional Area in the Jomoro District in the Western Region. The hub, which will be established in the Western Region, the region where the oil was discovered in Ghana, is expected to cost around US$60 billion.

The hub will be a host to facilities which include refineries, petrochemical plants, power plants, light industry, waste and water treatment facilities, storage facilities, and business and residential centres.
With a location scouted and feasibility being undertaken, industry analysts believe that the hub should not just create jobs but also establish a sustainable means of refining local crude, create the environment for synergies between public and private to flourish, and unify all three spheres of the petroleum industry: upstream, midstream and downstream.

The government intends to leverage on private capital to finance the project funding requirements. The contribution of the government Ghana would be targeted at providing the initial basic infrastructure including land acquisition, payment of compensation, construction of road and railway networks, and extension of the area, social amenities, such as water and electricity.

The development of the hub will include construction of key infrastructure such as jetties, storage tanks, refineries, an LNG facility, power plants, and infrastructure for offshore activities.

The project is expected to contribute enormously to economic growth through value addition to petroleum resources and job creation. The hub, the report said, will drive the growth of various industries including petrochemicals and create 780,000 direct and indirect jobs.

Other anticipated benefits are tax receipts from downstream value chain operations and the provision of basic social amenities, such as schools, health facilities and leisure parks. The establishment of a public corporation to oversee the development of the hub will provide the needed confidence to potential investors who are desirous of investing in it.

The government has outlined a bold vision to make Ghana a hub for refined petroleum products of West Africa. The hub will be built in three phases over a 13-year period, starting from 2022 and to be completed by 2035. It is anticipated that the petroleum hub will be built in the Western Region at a location that has the ideal environment and a single candidate land that can hold the planned infrastructure and activities, estimated to cover 20,000 acres.

Any interested investor should send below information;

1. Letter of Intent
2. Profile of Company
3. Proposal of the projects (such as technology, Labour force, Capital injections and Social responsibilities)

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