The Petroleum Hub Development Corporation (PHDC) and its anchor partner, Touchstone Capital Partners, have reaffirmed their resolve towards the full development of Lot 1 of the ambitious energy project, which is estimated to cost US$12 billion.

In a press statement issued on Wednesday, July 29, 2026, the two entities reiterated their commitment to advancing the project, which will transform Ghana and Africa’s energy landscape and create over 780,000 jobs for Ghanaians.

In the statement, the two organisations disclosed their vision of placing the project at the heart of the African energy ecosystem and making Ghana the preferred destination for energy movement.

“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.

“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,” says Niccolò Ravano, Vice President of Touchstone Capital Partners.

Structured as a multi-phase project, the Ghana Integrated Petroleum Hub is designed to establish Ghana as the leading petroleum, petrochemical, logistics and industrial gateway for West Africa under the African Continental Free Trade Area (AfCFTA).

According to the draft Plan, the project represents an estimated US$60 billion long-term private investment opportunity. Touchstone Capital Partners’ agreement with PHDC will see it develop Lot 1 of the multi-phase project, comprising approximately US$12 billion in investment under the agreement between PHDC and the TCP-UIC Consortium.

Upon completion, the Petroleum Hub project is expected to feature three world-class refineries with an initial combined capacity of 900,000 barrels per day, expandable to 1.5 million barrels per day; five integrated petrochemical complexes; and petroleum storage capacity of approximately 10 million cubic metres.

The Hub will also include LNG receiving and gas-processing infrastructure, gas-to-power generation facilities, marine terminals and deep-water jetties, industrial parks and export processing zones, and rail, road, utility and logistics infrastructure across an approximately 13,565-acre integrated industrial city.

*A National Ecosystem, Not a Single Project*

Both PHDC and Touchstone Capital Partners have expressed confidence in the partnership, which is set to position the Petroleum Hub project 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.

Independent published estimates place direct and indirect employment from the completed programme at approximately 780,000 jobs by 2036, with additional multiplier effects anticipated across supply chains, local enterprise and regional trade as phased investment and construction milestones are achieved.

The partners also note that programme planning data shows that a share of long-term project revenues and associated economic activity will support broader social investment, including education, healthcare, technical training and community development alongside the core industrial build-out, subject to phased implementation and investor commitments.

The project is intended to strengthen regional energy security, increase domestic refining capacity, promote industrialisation, expand exports, support regional logistics and position Ghana as one of Africa’s leading integrated energy and industrial economies.

*About the Petroleum Hub Project*

The Petroleum Hub Project will be located in Jomoro, in Ghana’s Western Region. The Hub will comprise three refineries with a total capacity of 900,000 barrels per stream day (BPSD) and five petrochemical plants with a minimum capacity of 90,000 BPSD, storage tanks with a cumulative capacity of 10 million cubic metres, and at least two jetties to support import and export activities.

The project is poised to position Ghana as a leading petroleum and petrochemical hub in Africa, enhancing regional energy security and economic integration.