Ghana’s Petroleum Hub Development Corporation (PHDC) announced today a $28 billion Build‑Operate partnership with an international consortium led by Global Sphere, aimed at developing Lot Two of the Petroleum Hub project in Jomoro.
The consortium includes investors and technical partners from South Korea, the United Arab Emirates and Mali, and will fund a 300,000‑barrel‑per‑day refinery, two petrochemical plants, a four‑million‑cubic‑metre storage complex and a multi‑berth jetty.
PHDC Chief Executive Officer Dr Tony Aubynn said the agreement was a milestone that would move the project from planning to implementation. “This commitment ranks among the largest industrial investment ever mobilised in Ghana and stands as a powerful vote of confidence in our country’s stability, leadership and long‑term economic prospect,” he said.
Construction is slated to begin in the first quarter of 2027, with the full development expected to take five years. The project is positioned to boost Ghana’s role in West Africa’s energy industry and create jobs for engineers, technicians, artisans, entrepreneurs, contractors and small businesses.
Dr Aubynn linked the hub to President John Dramani Mahama’s 24‑hour economy initiative, noting that a fully operational Petroleum Hub could support continuous economic activity and strengthen resilience to global energy market shocks.
He added that the success of the project would hinge on translating the investment commitment into completed infrastructure, jobs and sustainable economic benefits for Ghanaians. “The true measure of our success will not be the agreement we sign, but the infrastructure we build, the investment we realise, the jobs we create, the industries we establish, and the lasting value we deliver to the people of Ghana,” he said.
