Touchstone Capital Partners (TCP) has reaffirmed its commitment to the development of Lot One of Ghana’s proposed $12 billion Petroleum Hub project, as it moves to deepen its partnership with the Petroleum Hub Development Corporation (PHDC) on one of Africa’s most ambitious industrial undertakings.
The reaffirmation comes as both institutions intensify collaboration on advancing the first phase of the project at Jomoro in the Western Region.
The engagement is expected to accelerate preparatory works and strengthen coordination as the initiative moves closer to execution.
The Petroleum Hub project, envisioned as a transformative integrated energy and industrial ecosystem, is projected to become Africa’s largest petroleum and petrochemical hub upon completion.
A joint statement issued by the parties said the renewed engagement underscores their shared resolve to push ahead with development plans despite recent public speculation regarding investor participation.
Vice President of Touchstone Capital Partners, Niccolò Ravano, reiterated the consortium’s strong commitment to delivering Lot One of the project, stressing that TCP is actively putting in place strategic measures to ensure its successful realisation.
“Our vision extends beyond a single project. We believe Africa’s next phase of economic development will be driven by integrated development ecosystems that combine infrastructure, finance, industry, technology and human capital,” he said.
Mr Ravano added that the Ghana Integrated Energy and Industrial Hub has the potential to serve as a benchmark for sustainable industrialisation across Africa and other emerging markets.
On his part, the Chief Executive Officer of PHDC, Dr Toni Aubynn, described the Petroleum Hub as one of the continent’s most significant industrial development initiatives, with the capacity to fundamentally reshape Ghana’s energy and industrial sectors.
He noted that the project would enhance energy security, expand domestic refining capacity, drive industrialisation, attract foreign direct investment and boost exports, while also strengthening regional economic integration.
Dr Aubynn further explained that the initiative is expected to generate substantial employment opportunities during both construction and operational phases, while also promoting technology transfer, local content participation and skills development for Ghanaians.
According to the statement, the Petroleum Hub is being designed as a fully integrated industrial ecosystem where energy, petrochemicals, logistics, manufacturing, digital infrastructure, finance, education and healthcare systems are interconnected to support long-term sustainable growth.
Independent projections suggest the project could create approximately 780,000 direct and indirect jobs by 2036, with additional economic benefits expected to ripple through supply chains, local businesses and regional trade networks as implementation progresses.
The statement further indicated that a portion of the long-term economic gains from the project would be channelled into education, healthcare, technical training and community development initiatives, subject to phased implementation and investor participation.
BY CLIFF EKUFUL
