Nat’l Tymes News Desk
PRESIDENT John Dramani Mahama is set to reset and fast-track the $12 billion Phase One Petroleum Hub Project at Jomoro in the Western Region, in a move aimed at finally bringing the long-awaited project to life and creating thousands of jobs for Ghanaians.
The move follows the stalled implementation of the project after an initial partial sod-cutting ceremony in August 2024, which was affected by land disputes and compensation challenges.
Sources at the Petroleum Hub Development Corporation (PHDC) indicate that the investor group, Touchstone Capital Partners (TCP), has secured funding for Lot 1 and is expected in Ghana in the coming weeks to finalise preparatory works ahead of a planned re-launch by President Mahama before December 2026.
President Mahama, who has expressed strong commitment to the project, directed in July 2025 that the land size be reduced from 20,000 acres to 5,000 hectares to address petitions from affected communities while ensuring fair and adequate compensation.
The directive has since been gazetted and is being implemented by the Lands Commission.
Energy Minister, Dr. John Abdulai Jinapor, has also disclosed that the government is close to signing a major new agreement to pave the way for the project’s take-off, in line with the NDC government’s vision of making Ghana a major petroleum hub in West Africa.
When completed, Phase One is expected to deliver a 300,000-barrel-per-day (bpd) refinery, a petrochemical plant, storage capacity of three million cubic metres, as well as a modern jetty and port.
The full Petroleum Hub is projected to create about 780,000 jobs, train 200,000 Ghanaians in skilled roles and boost Ghana’s Gross Domestic Product (GDP) by more than 70 per cent.
The project is also expected to support President Mahama’s 24-Hour Economy and Big Push programmes, with a focus on industrialisation, job creation and youth employment.
The chiefs and people of Jomoro have welcomed President Mahama’s intervention, describing it as a major step towards transforming the Western Region into Ghana’s energy capital.
Source: Nationaltymes.com
