Ghana’s ambition to become a leading petroleum and petrochemical hub in Africa has taken another major step forward with the signing of a Memorandum of Understanding (MoU) between the Petroleum Hub Development Corporation (PHDC) and Egyptian petrochemical giant, Chemexa Petrochemical Trading, alongside its local partner, Afdat Group of Companies.
The MoU lays the groundwork for Chemexa and Afdat to jointly construct storage tanks with a cumulative capacity of 7 million cubic meters, a critical component of the multi-billion-dollar Petroleum Hub project.
Speaking at the signing ceremony in Accra, the Acting Chief Executive Officer of the PHDC, Dr. Toni Aubynn, hailed the agreement as a “special day” in Ghana’s energy development journey and a defining moment for the Petroleum Hub initiative.
“The agreement advances President John Dramani Mahama’s goal of generating sustainable employment and securing Ghana’s energy security through the Petroleum Hub project.”
Dr. Toni Aubynn, Acting Chief Executive Officer of the PHDC
He emphasised that the collaboration marks not just an investment milestone but also a renewal of the longstanding Ghana–Egypt bilateral relationship, rooted in shared history and a vision for African self-reliance.
“The Egyptian company’s commitment serves as another platform for deepening the longstanding ties between Ghana and Egypt and also indicates the readiness of African countries to support one another in developing the continent.”
Dr. Toni Aubynn, Acting Chief Executive Officer of the PHDC
Dr. Aubynn linked the agreement to President John Dramani Mahama’s vision of securing Ghana’s energy future and creating sustainable jobs through the Petroleum Hub project a transformative initiative designed to enhance domestic refining capacity, reduce imports, and boost value addition in the oil and gas sector.
Dr. Aubynn added, “Ghana is a prime investment destination,” pointing to the country’s strategic location, democratic stability, and investor-friendly regulatory framework as major incentives for foreign participation.
“This is a very special day for the Petroleum Hub because this MoU is very important for us.
“The President and our Energy Minister are determined to develop this project, which will be the first in Africa, and will be very happy with this development.”
Dr. Toni Aubynn, Acting Chief Executive Officer of the PHDC
Egyptian Investment Confidence
Khaled Sawaby, Owner and General Manager of Chemexa Petrochemical Trading, praised Ghana for its openness to business and for its growing reputation as an investment-friendly economy in the sub-region.
He assured the PHDC of Chemexa’s dedication to moving swiftly from agreement to execution, stating that the firm had “a clear roadmap to ensure that this MoU transitions from concept to concrete action.”
Chemexa’s participation brings extensive technical expertise in petrochemical trading, logistics, and infrastructure development. The company, founded in 2018, has grown rapidly to serve over 20 countries worldwide, establishing itself as a leader in petrochemical material trading and distribution.
This latest MoU is the third major agreement signed under Dr. Aubynn’s leadership, following similar partnerships with Mannschaft Engineering and Surbana Jurong Group.
Together, these agreements demonstrate the growing momentum behind the Petroleum Hub project, which is projected to attract billions in foreign direct investment (FDI) and become one of Africa’s largest industrial infrastructure developments.
The Petroleum Hub is envisioned as a fully integrated complex that will include refineries, petrochemical plants, storage terminals, and associated infrastructure such as power plants, ports, and residential facilities.
Located in the Western Region, the project aims to make Ghana the gateway for petroleum and petrochemical trade in West Africa.
Industry analysts say that the MoU with Chemexa represents a major confidence boost, as it brings not only investment but also critical technical know-how and operational experience that will accelerate implementation.
Local Collaboration for Sustainable Growth
The local partner, Afdat Group of Companies, will play a key coordinating role in the implementation process, ensuring local participation and compliance with Ghanaian regulatory and environmental standards.
Afdat, a Ghanaian-owned firm with operations in commodities trading and infrastructure development, has pledged to facilitate the project’s rollout efficiently and transparently.
The company’s involvement also underscores the government’s commitment to inclusive growth and local content participation, ensuring that Ghanaians directly benefit from the Petroleum Hub’s opportunities.
As Ghana continues to attract strategic partners for the project, the signing with Chemexa Petrochemical Trading marks a decisive stride toward realising President Mahama’s vision of a world-class petroleum and petrochemical hub, positioning Ghana as a regional leader in energy innovation and industrialisation.
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