Accra: The 24-Hour Economy and Accelerated Export Development Authority (24H+) has signed a Memorandum of Understanding (MoU) with Petrochemical Holdings GmbH (PCH) to establish two strategic industrial projects aimed at boosting manufacturing, exports, and job creation in Ghana.
According to Ghana News Agency, the projects include an integrated chemical production manufacturing complex for sodium cyanide and chlor-alkali/caustic soda, as well as a gold tailings recovery and environmental remediation platform. A statement issued in Accra emphasized the proposed chemical production complex's significant investment of approximately US$700 million, highlighting the substantial investment the Government's 24-Hour Economy Programme is attracting.
The statement further noted that the projects will be executed through GreenRock Petrochemical Ghana Limited (PCH Ghana), a joint venture between GreenRock, a company from the Gulf region, and Petrochemical Holdings GmbH, an international chemical industry group with over 30 years of experience in large-scale petrochemical and industrial projects. Under the MoU, PCH will offer technical expertise for a structured gold recovery program aimed at identifying suitable sites, recovering economic value from gold tailings, and conducting environmental rehabilitation.
The initiative is expected to enhance environmental security, protect water bodies, and promote more responsible mining practices. It aligns with President John Dramani Mahama's industrial transformation agenda by bolstering local production, reducing import reliance, creating value across the mining supply chain, and supporting long-term economic development.
The chemical production complex will enable Ghana to produce sodium cyanide and caustic soda locally, diminishing the country's reliance on imports. Additionally, the facility is anticipated to supply the broader West African market, positioning Ghana as a regional hub for critical mining and industrial chemicals while mitigating exposure to global supply chain disruptions. Utilizing salt as its primary feedstock, the complex will also manufacture chlor-alkali products for water treatment, disinfection, and other industrial applications.
Mr. Goosie Tanoh, the Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, stated that the partnership would accelerate Ghana's industrialization, export promotion, and sustainable job creation. He invited local and international investors and development partners to support President Mahama's 24-Hour Economy Transformation Agenda to achieve the country's industrial development goals.
Mr. Iakov Goldovskiy, the Chief Executive Officer of Petrochemical Holdings GmbH, expressed that the projects have the potential to attract significant foreign direct investment while creating jobs, expanding industrial capacity, and promoting sustainable export-led growth. He noted that the partnership would strengthen Ghana's position as a regional hub for mining chemicals, responsible resource recovery, and value-added industrial production. The next phase of the partnership will involve feasibility studies, regulatory and environmental approvals, the signing of definitive agreements, and final investment decisions for both projects.