The Chief Executive Officer for the Petroleum Hub Development Corporation Charles Owusu has said the realization of the dream to have a petroleum hub development project commencing in Ghana has been as a result of hard work, dedication, zeal for success and commitment.
According to him, though it has been a long journey, seeing it materialized was gratifying.Delivering a welcome address at the official sod-cutting ceremony on Monday August 19, 2024, Mr. Owusu, commended all the stakeholders for their support in achieving such a milestone.
“The journey to this day has not been easy but with hard work, patience, zeal for success and effective collaborations we are all gathered here to be part of this momentous event” he said.
The sod-cutting ceremony on Monday follows the signing of a $12billion agreement on June 18 between the Petroleum Hub Development Corporation and the TCP-UIC consortium which comprises of Touchstone Capital Group Holdings Limited., UIC Energy Ghana Limited, China Wuhuan Engineering Company Limited and China Construction Third Engineering Bureau Company Limited for the development of Phase 1.
The project has been structured into three phases with the first phase starting in September 2024 which will see the clearing of the land, construction of drains and other civil works.
Then it will take a break in December as Ghana prepares for a major election and resumes in March 2025 due to the Chinese holiday in February. Mr. Owusu further noted that the groundbreaking ceremony was not just the start of a construction project, but marks the beginning of a new chapter for the country, which is a demonstration of the President’s vision and a collective shared aspirations of the corporation.
“Today, we have taken the first step in turning a dream into reality. This project symbolizes progress, innovation, collaborations and a bright future.
It is a project that will not only serve our current generation but also the future, leaving a last legacy” he said.
When completed, the project will cover a total land area of 20,000 acres which will include 3 oil refineries with a capacity of 300,000 barrels each, 5 petrochemical plants supporting various industries, storage tanks with a 10million cubic meter capacity, a jetty and other ancillary structures.
The project is expected to not only create over 780,000 jobs but also increase Ghana’s GDP by about 70 percent.
,Source: myinfotoday.com
