11 - 13 Oct 2023


Government of Ghana to leverage Chinese investment for petrochemical hub project

The government of Ghana hopes to work with Chinese investors to build the much-envisaged petrochemical hub to help maximize the benefits of the country’s petroleum industry, the deputy minister for energy, in charge of petroleum Mohammed Amin Adams has told Xinhua.

Although there were many other interested partners, the deputy minister said the offer from the Chinese investors looked good.

“We have been to China to market and promote the potential in the area. Some Chinese companies have also approached us, expressing their interest. I can count three,” he said.

The West African country, which started commercial oil production in December 2010, seeks to use the petrochemical hub to diversify opportunities presented by the petroleum industry for economic development and job creation.

The official told Xinhua on the sidelines of an ongoing two-day annual oil governance summit that most of the Chinese investors seeking to invest in the hub development want to invest in methanol processing as well as the provision of infrastructure for companies that want to do refineries.

Ghana’s only gas processing plant located in Atuabo, 328 km west of the capital, was built by Chinese energy firm Sinopec and financed by the China Development Bank.

The minister said the gas plant and the limited volume of gas pipelines had become the critical foundation for petrochemical hub infrastructure. Enditem

Source: https://www.newsghana.com.gh/government-of-ghana-to-leverage-chinese-investment-for-petrochemical-hub-project/