Representatives of Phase One investors, TCP-UIC Consortium on Friday, February 6, 2026 held discussions with the management of the Petroleum Hub Development Corporation (PHDC) as both institutions take concrete steps towards finalising the agreement and initiating preliminary groundwork.
The meeting also provided an opportunity for the consortium, which comprises Touchstone Capital Group Holdings Ltd., UIC Energy Ghana Ltd., China Wuhan Engineering Co. Ltd., and China Construction Third Engineering Bureau Co. Ltd., to engage in exploratory talks with the PHDC regarding the introduction of a new partner company that would develop a power plant at the hub.
The company, China Railway Construction Corporation Limited (CRCC), is said to be interested in constructing a 1.2-gigawatt power plant in Ghana and proposes to locate it at the Petroleum Hub.
The consortium representatives believe that the construction of this mega power plant, which could be completed within six months, would ensure a reliable power supply for the hub while contributing significantly to Ghana’s overall power generation capacity.
The Chief Executive Officer of the Petroleum Hub Development Corporation, Dr Toni Aubynn, described the development as exciting, noting that power production is a critical component of the project’s advancement.
Dr Aubynn, however, emphasised that the ownership structure of the power plant project would be of considerable interest to the Government of Ghana and that further consultations with the Ministry of Energy and Green Transition are necessary to address and resolve any outstanding issues.
He affirmed that the PHDC, consistent with its core mandate, would facilitate engagements with the ministry and other relevant stakeholders to ensure the successful development of the power plant at the hub.
Another key issue from the meeting was the potential for collaboration with sister agencies, and Dr Aubynn disclosed that the PHDC is actively pursuing such partnerships, with formal discussions already held with the Ghana National Petroleum Corporation (GNPC), the Tema Oil Refinery, and BOST Energies.
About the PHDC
The Petroleum Hub Development Corporation (PHDC) was established under the Petroleum Hub Development Corporation Act, 2020 (Act 1053), to lead the development of a world-class petroleum and petrochemical hub in Ghana. The hub is intended to serve the energy needs of the West African sub-region and the broader continent.
PHDC aims to promote innovation, research, and strategic infrastructure development to meet Africaโs growing demand for petroleum products and services. By creating an integrated petroleum value chain, the Corporation seeks to unlock economic opportunities, foster industrial growth, and create sustainable employment for Ghanaians and citizens across Africa.
About the Petroleum Hub Project
The Petroleum Hub Project, estimated at $60 billion, will be located in Jomoro, in Ghanaโs Western Region. The hub will comprise: Three refineries with a total capacity of 900,000 barrels per stream day (BPSD),
Five petrochemical plants with a minimum capacity of 90,000 BPSD. Storage tanks with a cumulative capacity of 10 million cubic meters and at least two jetties to support import and export activities.
The project is poised to position Ghana as a leading petroleum and petrochemical hub in Africa, enhancing regional energy security and economic integration.
