Ghana’s Petroleum Hub Agreement Signals a Major Proposed Industrial Investment

On 19 October, the Petroleum Hub Development Corporation signed an agreement valued at US$28 billion with a consortium involving partners from the UAE, South Korea and Mali for the planned second phase of the Jomoro Petroleum Hub. The proposed Build-Own-Operate development is intended to include refining, petrochemical production and petroleum storage, but reports indicate that financing arrangements and land and compensation issues still need to be resolved. Investors, project developers and corporate finance advisers can explore opportunities in financial structuring, due diligence and project-risk assessment as the development moves forward. HPC can support investment modelling, data analysis and decision-support systems; the announced US$28 billion project value is not a confirmed financing close or completed transaction.