The first-ever private oil refinery in Ghana was opened by President Nana Addo Dankwa Akufo-Addo, who also pledged to revitalize the state-owned Tema Oil Refinery (TOR) and put it back on its previous level footing.
Built in the Tema Industrial Area by the Chinese conglomerate Sentuo Group in Ghana, the new refinery is anticipated to process 40,000 barrels per day in the first phase and then increase to 100,000 barrels per day by the end of the current year.
However, the facility’s second phase, which is anticipated to be finished this year, would also raise its capacity to five million barrels annually.
Moreover, last Friday’s spectacular ceremony in Tema, which marked the official opening of the new facility, drew spectators from near and far. President Nana Addo, however, said that his government is committed to revamping the Tema Oil Refinery and would also stop at nothing to ensure that such vital state assets were precisely operational.
The president also assures the nation concerning the TOR, thus the government’s total commitment to bringing it back on its stream so that, together with Sentuo, more and more of our oil will be refined right here in our country, Ghana. He emphasized.
He explained that the projects never represent anything apart from the symbol of our determination to shape our destiny, strengthen our economy, reduce our dependence on foreign oil and inspire investment in our economy.
He also added that it was optimistic that Ghana would also soon wean itself off the reliance on foreign fuel for energy needs, and the entire operations of the refinery would also serve as a pivotal step towards the country’s energy future.
He quoted,” No longer will we be relying on an external source for fuel; instead, we will harvest our natural resources to fuel our progress.”
He emphasized that the refinery would not only supply goods but would also aid in the development of the nation’s manufacturing, pharmaceutical, and even construction industries, among many other areas.
Remarkably, Sentuo Group executive chairman Xu Ning Quan also notes that the development demonstrated what countries could accomplish when the private sector was encouraged and that it reflected the long-standing ties between Ghana and China.
He also expressed his outstanding gratitude to the government of Ghana for erecting and building such an excellent and conducive atmosphere.
The Sentuo Group, which has been exceptionally present in the country of Ghana since the year 2008, currently comprises six great business sections, thus including Sentuo Steel Limited, Fujian Ceramic Company, Habilass Resources Limited, Sentuo Resources Recycling Limited, Sentuo Oil Refinery Limited and above all, Sentuo Building Materials Complex, which now hires more than expected about 4,500 local employees.
