Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr. Toni Aubynn, has described the Petroleum Hub project in Jomoro, Western Region, as a transformative initiative that will position Ghana as a leading energy and petrochemical hub in Africa.
He said the project represents Ghana’s bold vision to industrialise through energy investment and job creation. “The Petroleum Hub may look like a big dream, but Ghana must have a big dream,” Dr. Aubynn told the Ghana News Agency.
The government has earmarked land for the hub, to be developed under a Free Zones model to attract local and foreign investors. The site will host refineries, petrochemical plants, tank farms, and port facilities.
Investors will benefit from a tax-free construction period and a 10-year tax holiday, after which they will pay a reduced corporate tax rate of 15 percent, compared to the general 25 percent and 35 percent for mining.
Dr. Aubynn revealed that the PHDC has initiated an inter-agency framework to streamline bureaucratic processes, cutting down permit acquisition time from over 349 days to one month.
“The PHDC will be the coordinating body for all approvals to make investment faster and easier,” he said, stressing that the government’s role is mainly to facilitate, while the private sector drives implementation.
The project is also expected to evolve into a modern industrial city, featuring hospitals, hotels, and financial institutions. Drawing from Malaysia’s experience, Dr. Aubynn projected that Ghana’s hub could create between 500,000 and 800,000 jobs when fully operational.
“This aligns with President John Dramani Mahama’s 24-hour economy policy and the Big Push agenda to expand industrial growth,” he said.
He acknowledged the support of the Minister of Energy and Green Transition, Mr. John Jinapor, and the Minister of Finance, Dr. Ato Forson, for their commitment to the project.
Under the African Continental Free Trade Area (AfCFTA), Dr. Aubynn noted, the hub would give investors trade and customs advantages, making Ghana a central player in regional energy trade.
The PHDC has already started training residents of Jomoro and nearby areas to equip them with the skills needed for operations within the hub. Partnerships are ongoing with KNUST, Takoradi Technical University, UniMAT, and universities in Malaysia and Singapore.
Dr. Aubynn said the Petroleum Hub, when completed within the next decade, could increase Ghana’s GDP by over 70 percent, making the country a major exporter of refined petroleum, plastics, and fertilisers.
Discover more from Hot Stories Ghana
Subscribe to get the latest posts sent to your email.
