Board for Petroleum Hub Devt Corporation inaugurated

The Minister of Energy, Dr Matthew Opoku Prempeh, yesterday inaugurated the nine-member board of directors for the newly established Petroleum Hub Development Corporation (PHDC), with a call on members to help actualise the President’s vision of developing a petro-chemical industry for the country.

The board is chaired by the President of the Western Nzema Traditional Area, Awulae Annor Adjaye III , with Charles Owusu, the Chief Executive Officer of the hub, Kwame Asante Nsiah and Humphrey Darke, as members.

The others are Senyo Kwasi Hosi, Yaw Agyemang-Duah, David Ampofo, Maame Ofewah Sarpong and Samuel Erickson Abakah.

Dr Prempeh said the PHDC was set up to play a crucial role in the country’s industrialisation agenda.

He said the appointment of the members was an expression of the President’s confidence in their individual and collective capabilities, to drive the course of the agenda as the country embarks on a journey of industrialisation.

Dr Prempeh explained that the hub constituted one of the strategic interest and initiative to serve as a major pillar of growth for the Ghanaian Economy.

He said every president since the inception of the fourth republic had done his bit to ensure value addition of the country’s raw materials.

Dr Prempeh said the petroleum hub, which was an initiative of President Akufo-Addo, was going to be a game changer.

“We believe that this hub will accelerate the growth  of the petroleum downstream sector, and be a major player  and consequently ensure sustainable wealth creation, progress  and prosperity of this country,” he emphasised.

Dr Prempeh noted that the hub would occupy a landscape of about 20, 000 acres , mostly in the Western Nzema Traditional Area.

He said among other things, the board was expected to attract private investors to build refineries, petrochemical industries, fertilizer plants and ‘everything’ conceivable in the petroleum industry.

“I dare say that nobody can question the fact that it will transform the economy of this country if we are able to achieve it,” Dre Prempeh said.

He said “If this agenda fails, it falls on the board, but if it succeeds, your names will be written in gold forever.”

Awulae Adjaye expressed his gratitude to the president for reposing in members of the board confidence, and pledged to ensure that the hub achieved its goals.