The 24-Hour Economy and Accelerated Export Development Authority (24H+) and Petrochemical Holding GmbH (“PCH”) have signed a Memorandum of Understanding (MOU) to establish an integrated chemical production manufacturing complex (sodium cyanide and chlor-alkali-caustic soda) and a gold tailings recovery and environmental remediation platform in the country.
The investment in the proposed chemical production complex is estimated at approximately US$700 million
The two strategic industrial projects also hold immense job creation potential for the country.
The Private Vehicle to be used for the Ghana projects will be GreenRock Petrochemical Ghana Limited (PCH Ghana), which is a joint venture formed between GreenRock and Petrochemical Holdings GmbH.
Green Rock is a Gulf-region company that will contribute to the financing and strategic development of the projects and Petrochemical Holding GmbH, an established chemical industry group with more than 30 years of experience in petrochemicals, chemicals and large-scale project delivery.
Under the MoU framework, PCH will bring technical capability to support a structured programme for gold recovery focused on identifying suitable sites, testing recoverable materials, recovering economic value where viable and supporting responsible clean-up and rehabilitation. This is to create a sustainable model that improves environmental security, protects water systems and supports a more organised and responsible mining sector.
The MoU also creates a framework to advance projects that support President Mahama’s wider industrial transformation agenda by strengthening local production, reducing import dependence, creating value across the mining and industrial supply chain and supporting long-term economic development.
Together, the two projects also reflect Ghana’s wider ambition to move beyond raw material production and into higher-value industrial activity serving both Ghana and the wider West African region.
The chemical production complex is intended to establish a new strategic industry for Ghana by moving the country from reliance on imported sodium cyanide and caustic soda to domestic production capable of meeting national consumption. The plants would also have the capacity to serve the wider West African demand, positioning Ghana as a potential regional supplier of critical mining-sector and industrial inputs and reducing exposure to foreign supply chains, pricing shocks and geopolitical disruption.
By using salt as a key feedstock, the complex will support higher-value chemical production of Caustic Soda and other Chlor-alkali products for use in water treatment, disinfection and industrial applications.
The Presidential Adviser on the 24-Hour Economy and Accelerated Export Development said the MOU with PCH will advance Ghana’s industrialisation drive, export promotion, and sustainable job creation, building an economy that works for everyone, every hour.
“We welcome local and international private sector businesses, investors and development partners who align with President Mahama’s 24-Hour Economy Transformation Agenda, to work with us to help achieve this imperative national goal”, he said
Mr. Iakov Goldovskiy, CEO of Petrochemical Holding GmbH, the chemical industry partner within PCH, said: “Large-scale industrial projects of this kind have the potential to mobilise significant direct foreign investment into Ghana and create long-term national value through jobs, industrial capacity, environmental recovery and sustainable export-led growth.”
“Through this partnership, we believe Ghana can strengthen its position as a regional hub for mining chemicals, responsible resource recovery and value-added industrial production.” He said.
The subsequent steps to be taken will be feasibility studies, obtaining the necessary regulatory and environmental approvals, signing definitive agreements, and reaching final investment decisions for both projects.
Source: PR Unit of the 24-Hour Economy and Accelerated Export Development Authority (24H+)
