Charles Owusu, CEO of Petroleum Hub Development Corporation (PHDC), has disclosed the investment model for the government’s flagship project, a petroleum hub development.
“The investment model is a unique, novel approach under the Public-Private Partnership (PPP) umbrella, a first in Africa.” Mr.Owusu stated in an interview on Morning Starr with Lantam Papanko.
He emphasized, “Businesses interested in participating will not only invest but also create jobs, contributing to economic growth.”
“We’re looking at Build, Own, and Operate (BOO) for key infrastructure, including the refinery, petrochemical plant, storage, and jetty.” Mr. Owusu added.
He distinguished this approach from traditional Build, Operate, and Transfer (BOT) models, where assets are transferred to the government after depreciation.
Owusu encouraged companies to explore investment opportunities, stating, “This collaboration will drive economic development and job creation.”
Regarding ancillary projects, Owusu announced, “We have utilities, settlement, transportation, LNG terminals, and joint ventures. We’re calling on Ghanaian businesses to come on board, partner with PHDC, and invest in these ancillary projects.”
He highlighted the joint venture structure, stating, “The joint venture is in perpetuity, with government interest at a minimum of 10%. This is a common usage facility, benefiting all phases of the petroleum hub.”
Owusu emphasized the long-term partnership, saying, “We’re not doing build, own, and transfer. This time, we’re in a relationship until the kingdom comes. This impacts decision-making, ensuring collaborative growth.”
Source: Ghana/Starrfm.com.gh/103.5FM/Tracy Afia Ahensima Danso