Ghana’s President Nana Akufo-Addo has flagged off the development of a 300,000 barrel-per-day refinery in Jomoro, a metropolis within the southwest of the nation. The undertaking, which may also embody petrochemical vegetation, will price $12 billion to comprehend, with funding from a consortium of Touchstone Capital Group Holdings, UIC Power Ghana, China Wuhan Engineering Co., and China Development Third Engineering Bureau Co. The federal government hopes this undertaking will remodel Ghana into West Africa’s main oil refining middle, with plans to supply sufficient refined and by-products to produce the area’s wants by 2036. In the course of the groundbreaking occasion, President Akufo-Addo said that the petroleum hub has the potential to be a cornerstone of the nation’s economic system. Nonetheless, the undertaking faces criticism. Vivid Simons of IMANI Africa argues that the consortium lacks a stable funding technique, whereas some native farmers, represented by Oliver Barker-Vormawor, oppose the 20,000-acre growth, citing considerations over displacement, environmental affect, and land rights.
SOURCE: REUTERS