Ghana’s Petroleum Hub Development Corporation (PHDC) signed a $28 billion build-operate agreement on 19 October with a consortium led by Global Sphere for the second phase of its petroleum hub at Jomoro. The phase includes a 300,000-barrel-per-day refinery, two petrochemical plants, four million cubic metres of storage and a jetty; construction is due to start in early 2027 and finish by 2031. The first phase, a $12 billion complex of the same refining capacity agreed in 2024, still has no commissioning date as land transfer and compensation drag on. A second phase would add capacity far beyond Ghana’s own fuel demand, so its future rests on export markets and on the consortium raising the money.
Sources
- Citi Newsroom: https://www.citinewsroom.com/2026/10/phdc-signs-28bn-deal-for-second-phase-of-ghanas-petroleum-hub/
- MyJoyOnline: https://www.myjoyonline.com/ghana-signs-28bn-investment-deal-with-consortium-for-phase-2-petroleum-hub-project/
- Citi Newsroom (2024, first phase): https://citinewsroom.com/2024/06/government-signs-12bn-agreement-for-first-phase-of-petroleum-hub-project/
- ppPLUS: https://portfolio-pplus.com/Communicator/Article/5602