The Petroleum Hub Development Corporation (PHDC) and its anchor partner, Touchstone Capital Partners, have reaffirmed their commitment to the development of Lot 1 of Ghana’s ambitious Petroleum Hub project, estimated to attract an investment of US$12 billion.
In a statement issued on Wednesday, July 29, 2026, the two entities said they remain committed to advancing the project, which is expected to transform Ghana’s energy and industrial landscape while creating more than 780,000 jobs by 2036.
The partners said their vision is to establish the Petroleum Hub as an integrated energy and industrial ecosystem that positions Ghana as a leading destination for energy, petrochemical and related investments across Africa.
“PHDC and Touchstone Capital Partners are positioning the Hub as an integrated development ecosystem in which energy, petrochemicals, logistics, manufacturing, digital infrastructure, finance, education and healthcare reinforce one another rather than standing as isolated assets,” the statement said.
According to Niccolò Ravano, Vice President of Touchstone Capital Partners, the project is designed to make Ghana one of Africa’s leading integrated energy and industrial economies through industrialisation, innovation and regional cooperation.
The Ghana Integrated Petroleum Hub, which will be developed in Jomoro in the Western Region, is structured as a multi-phase project aimed at making the country a petroleum, petrochemical, logistics and industrial gateway for West Africa under the African Continental Free Trade Area (AfCFTA).
Under the agreement between PHDC and the TCP-UIC Consortium, Touchstone Capital Partners will develop Lot 1 of the project, which represents an estimated US$12 billion investment.
The broader Petroleum Hub project is projected to attract up to US$60 billion in long-term private investment and will include three refineries with an initial combined capacity of 900,000 barrels per day, expandable to 1.5 million barrels per day.
It will also feature five integrated petrochemical complexes, petroleum storage facilities with a cumulative capacity of about 10 million cubic metres, LNG receiving and gas-processing infrastructure, gas-to-power facilities, marine terminals, industrial parks and export processing zones.
The project will further include supporting infrastructure such as rail, road, utilities and logistics networks across an approximately 13,565-acre integrated industrial city.
Integrated industrial ecosystem
PHDC and Touchstone Capital Partners said the Petroleum Hub is being developed beyond a single energy facility, with plans to integrate manufacturing, finance, education, healthcare and digital infrastructure into the wider industrial ecosystem.
They added that the project is expected to support broader economic development through local enterprise participation, technical training, community development and supply chain opportunities.
The partners believe the initiative will strengthen regional energy security, increase Ghana’s refining capacity, promote industrialisation, expand exports and enhance the country’s role in Africa’s energy sector.
About the Petroleum Hub Project
The Petroleum Hub Project is located in Jomoro, Ghana’s Western Region. When completed, it will comprise three refineries with a total capacity of 900,000 barrels per stream day (BPSD), five petrochemical plants with a minimum capacity of 90,000 BPSD, storage tanks with a combined capacity of 10 million cubic metres and at least two jetties to support import and export activities.
The project is expected to position Ghana as a major petroleum and petrochemical hub in Africa while contributing to regional energy security and economic integration.
