Ghana eyes $50-bln oil hub price tag

Ghana needs to invest USD 50 billion in petroleum infrastructure to become an energy hub, Energy Minister Boakye Agyarko said Thursday.

The country needs to build an oil refinery, tank farms, pipelines and marine facilities, he said, adding that the government would raise 10% to support construction of road networks, electricity and water facilities.

“Today, financing for new refineries has become difficult to obtain, especially as some existing refineries across the world are being shut down due to low margins,” Minister Agyarko was quoted as saying by Ghana News Agency. “But I believe with the right strategies and value positioning, coupled with the right environment, investors will choose Ghana and partner with us to develop infrastructure.”

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