Ghana has received yet another significant boost in its vision of establishing a state-of-the-art petroleum and petrochemical hub following the signing of a Memorandum of Understanding (MoU) between the Petroleum Hub Development Corporation (PHDC) and leading Egyptian firm, Chemexa Petrochemical Trading, along with its local partner, Afdat Group of Companies.
Signed on Tuesday, October 14, 2025, the MoU provides the preliminary framework that eventually enables Chemexa and Afdat to participate in the project by building storage tanks with a cumulative capacity of 7 million cubic meters.
In his brief remarks at the signing ceremony, the Acting Chief Executive Officer of the Petroleum Hub Development Corporation, Dr Toni Aubynn, described the occasion as a “special” one for the PHDC and the government in their determination to develop the Petroleum Hub project.
Dr Aubynn highlighted how the agreement advances President John Dramani Mahama’s goal of generating sustainable employment and securing Ghana’s energy security through the Petroleum Hub project.
He remarked that the Egyptian company’s commitment serves as another platform for deepening the longstanding bilateral relations between Ghana and Egypt and also indicates the readiness of African countries to support one another in developing the continent.
“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,” he remarked.
He emphasised the project’s transformative potential for Ghana’s economy, which he said cannot be overstated.
Dr Aubynn also touted Ghana as a prime investment hub, citing its strategic geographic position, stable democracy, and investor-friendly policies as factors making it the top choice in the sub-region.
Khaled Sawaby, Owner and General Manager of Chemexa Petrochemical Trading, praised Ghana as an investment haven, noting its welcoming people who are polite and hospitable to visitors.
He expressed his company’s admiration for Ghana’s ambitious plan to lead the sub-region’s energy sector and pledged full involvement in bringing it to fruition.
Mr Sawaby reassured the PHDC of his firm’s commitment to the agreed-upon roadmap, ensuring the MoU transitions from concept to concrete action.
This MoU, the result of intensive negotiations over several weeks, is the third under Dr Toni Aubynn’s leadership, following similar pacts with Mannschaft Engineering and Surbana Jurong Group for various roles within the project.
Attendees included PHDC Deputy Chief Executives Halimatu Sadia Abdulai and Onasis Rosely; Enoch Larbi Aboagye, Director of Legal; and Kwabena Owusu-Abrokwa, Director of Operations and Technical.
About Chemexa Petrochemical Trading
Chemexa Egypt is a leading company in the trade and distribution of petrochemical materials, based in Egypt and serving over 20 countries worldwide. Since its establishment in 2018, CHEMEXAEGYPT has established itself as a leader in the petrochemical trading industry.
About Afdat Group of Companies
Afdat is a Ghanaian-owned company that specialises in areas ranging from commodities trading to infrastructure development.
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 Africa’s 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 Ghana’s 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.
