Ghana’s quest for energy security received a shot in the arm as the first phase a new oil refinery was commissioned in the Tema Industrial Zone Friday.
The Sentuo Oil Refinery is an investment by the Sentuo Group of Companies, a Chinese investment group operating in Ghana since 2009.
The first phase of the 1.98-billion-dollar refinery is expected to produce at least 2.0 million metric tonnes of crude per year, before expansion and is expected to provide thousands of jobs after the two-phased project is completed.
The operationalisation of the Chinese-owned Oil Refinery is also expected to fill the void left by the state company the Tema Oil Refinery (TOR).
Commissioning the project, Ghanaian President Nana Addo Dankwa Akufo-Addo said the authorization of the refinery to be set up in the country represented Ghana’s quest to secure its energy future.
“The refinery will not only provide a stable supply of petroleum products but also create jobs, empower local communities, and drive investment in related industries, contributing to the realization of our vision of industrialization,” added Akufo-Addo.
He further emphasized that the establishment of the refinery is a product of the long-standing relations between Ghana and China.
Akufo-Addo noted that about 97 percent of petroleum products are imported into the country and that this refinery will cut down on the large imports.
“The establishment of this refinery signifies our commitment to reducing this dependence, achieving self-sufficiency, and driving the growth of our domestic petroleum industry,” the president wrote on his Facebook page after the commissioning.
Chinese Ambassador to Ghana Lu Kun observed that the commissioning of the refinery is a continued commitment of the Chinese business community to invest in Ghana for economic growth, emphasizing that China and Ghana have maintained solid and close ties.
“Developing solidarity and cooperation with African countries, including Ghana, has been the cornerstone of China’s foreign policy, and a firm and longstanding strategy,” Lu added.
According to Xu Ningquan, executive chairman of China’s Sentuo Group, the two-phased construction is expected to be completed by 2025 and will play an important role in Ghana’s energy supply.
Xu said the endeavours of Sentuo Group within Ghana’s borders have solidly cemented the companies as integral local enterprises with their labour bearing fruits for the country.
“Our commitment remains unwavering as we are here on the principle of win-win cooperation. We are dedicated to joining forces with partners from diverse backgrounds, fostering collaborative relationships that unlock new possibilities and avenues of opportunity,” he said.
Xu added, “I believe that through our collective efforts, the oil refinery project will achieve greater success, sharing more of its outcomes with the people in Ghana.”
Photo Credits: Ghana’s Presidency.