Energy Minister Dr Mathew Opoku Prempeh has said that the establishment of a petroleum hub in Ghana will propel economic growth and prosperity for the people of this country.
He said this creation will boost the petrochemical industry of the local economy.
The establishment of the hub was given a major boost when the Paramount Chief of Western Nzema Traditional Area, Awulae Annor Adjei III made lands available for the project.
The government needed about 20,000 acres of land along the coast of Western Nzema to establish the Hub, land that have since been made available by the chiefs.
Addressing the newly inaugurated board of the Petroleum Hub Development Corporation in Accra on Tuesday September 7, Dr Opoku Prempeh said “The petroleum hub is one of Ghana’s strategic interest and initiatives to serve as a major pillar of growth for the Ghanaian economy.
“I dare say that since the advent of the 4th Republic every president has done his bid to promote value addition for our raw materials, but we believe that the petroleum hub is the game changer in that direction.
“We believe that this hub will accelerate the growth of the petroleum downstream sector and be a major player in our economy and consequently ensure the development of sustainable wealth creation and progress and prosperity of this country.
“We hope that we are going to build refineries, petrochemical industry, fertilizer plants, gas to liquid industry, plastic industry and everything conceivable, we add value to it. This will transform the economy of this country.”
Board chairman of the corporation, Awulae Annor Adjaye III said “Today is a very important day in the history of Ghana. Why because, the upstream and downstream petroleum agenda, some of us are with them in the Eastern and Western region.
“I think that the petroleum hub is a key factor to ensure that government gets enough from the money they have been investing in the area and in the oil and gas.
“I am only pleading with members of the board , I have read your background and I know that you are all men of intelligence and competence and you have knowledge to share at any meeting to enable us achieve the object for which the president has assigned us.”