Accra: The Petroleum Hub Development Corporation (PHDC) and Touchstone Capital Partners have reiterated their commitment to the full development of Lot 1 of Ghana's ambitious Petroleum Hub project, estimated to cost US$12 billion. The initiative is poised to transform Ghana and Africa's energy landscape while creating over 780,000 jobs for Ghanaians.
According to Ghana Web, a press statement issued by both entities on Wednesday, July 29, 2026, outlined their vision for the project to serve as a cornerstone of the African energy ecosystem. The goal is to establish Ghana as a preferred destination for energy movement, integrating energy, petrochemicals, logistics, manufacturing, digital infrastructure, and other sectors into a cohesive development ecosystem.
Niccol² Ravano, Vice President of Touchstone Capital Partners, emphasized the project's vision: "Our vision is to position Ghana as one of Africa's leading integrated energy and industrial economies, creating sustainable opportunities through industrialisation, innovation and regional cooperation."
The Ghana Integrated Petroleum Hub is structured as a multi-phase project aiming to establish the country as a leading gateway for petroleum, petrochemical, logistics, and industrial activities in West Africa under the African Continental Free Trade Area (AfCFTA). The project represents an estimated US$60 billion long-term private investment opportunity, with Touchstone Capital Partners focusing on Lot 1, involving approximately US$12 billion in investments.
Upon completion, the project will feature three world-class refineries with a combined initial capacity of 900,000 barrels per day, expandable to 1.5 million barrels per day. It will also include five integrated petrochemical complexes and petroleum storage capacity of about 10 million cubic metres, alongside LNG receiving and gas-processing infrastructure, gas-to-power generation facilities, marine terminals, industrial parks, export processing zones, and comprehensive logistics infrastructure.
Both PHDC and Touchstone Capital Partners expressed confidence in their partnership's ability to position the Petroleum Hub as an integrated development ecosystem. The project is designed to create a substantial number of jobs directly and indirectly, with independent estimates suggesting around 780,000 jobs by 2036, alongside broader social and economic benefits.
The project's implementation is anticipated to strengthen regional energy security, increase domestic refining capacity, promote industrialisation, and expand exports, positioning Ghana as a leading energy and industrial economy in Africa. The Petroleum Hub will be located in Jomoro, in Ghana's Western Region, and will include significant infrastructure to support its ambitious goals.