Ghana Secures US$700 Million Petrochemical Investment Under 24-Hour Economy Initiative

Accra, Ghana – Ghana has taken another significant step towards industrial transformation following the signing of a Memorandum of Understanding (MoU) between the 24-Hour Economy and Accelerated Export Development Authority (24H+) and Petrochemical Holding GmbH (PCH) to develop two major strategic industrial projects valued at approximately US$700 million.

 

The agreement will facilitate the establishment of an integrated chemical manufacturing complex producing sodium cyanide and chlor-alkali/caustic soda, alongside a gold tailings recovery and environmental remediation platform aimed at promoting sustainable mining practices across the country.

 

The investment represents one of the largest industrial commitments announced under Ghana's 24-Hour Economy programme and is expected to strengthen local manufacturing capacity, boost exports, and create thousands of direct and indirect employment opportunities.

 

Strategic Investment to Accelerate Industrialisation

The proposed petrochemical complex will enable Ghana to produce critical industrial chemicals domestically, significantly reducing reliance on imports of sodium cyanide and caustic soda—essential inputs for the mining, manufacturing, water treatment and industrial sectors.

 

Beyond satisfying domestic demand, the facility is expected to position Ghana as a regional supplier of these strategic products across West Africa, enhancing export competitiveness while reducing exposure to global supply chain disruptions and volatile international pricing.

Using locally available salt as its primary feedstock, the complex will also manufacture chlor-alkali products used in water purification, disinfection, and various industrial processes, creating additional value within Ghana's natural resource sector.

 

Joint Venture to Deliver the Projects

The projects will be implemented through GreenRock Petrochemical Ghana Limited (PCH Ghana), a joint venture between GreenRock, a Gulf-region investment company, and Petrochemical Holding GmbH, an international chemical industry group with more than three decades of experience in petrochemical production and large-scale industrial project delivery.

GreenRock will provide financing and strategic development expertise, while PCH will contribute technical knowledge and operational experience required for the successful implementation of the projects.

 

Supporting Responsible Mining and Environmental Recovery

In addition to the chemical manufacturing investment, the MoU establishes a structured framework for recovering valuable minerals from gold tailings while promoting environmental restoration.

Under the agreement, PCH will help identify suitable recovery sites, evaluate recoverable materials, extract economically viable resources, and support rehabilitation efforts aimed at protecting water bodies and improving environmental sustainability within Ghana's mining sector.

 

The initiative is expected to encourage more responsible mining practices while reducing the environmental impact associated with historical mining activities.

 

Advancing Ghana's 24-Hour Economy Vision

The partnership aligns with President John Dramani Mahama's broader industrial transformation agenda, which seeks to expand domestic production, reduce import dependency, strengthen export capacity, and build resilient industrial value chains.

By promoting local manufacturing and value addition, the projects are expected to contribute significantly to Ghana's long-term economic growth while supporting the objectives of the 24-Hour Economy and Accelerated Export Development programme.

Government Invites More Strategic Investors

 

Speaking after the signing ceremony, the Presidential Adviser on the 24-Hour Economy and Accelerated Export Development described the partnership as a major milestone in Ghana's industrialisation journey.

 

He noted that the collaboration would strengthen export promotion, create sustainable employment, and contribute to building an economy capable of generating opportunities around the clock.

The Adviser also encouraged both local and international investors, development partners, and private sector organisations that share the vision of the 24-Hour Economy Transformation Agenda to partner with the Government in delivering transformational industrial projects.

 

Petrochemical Holding GmbH Optimistic About Ghana's Potential

Chief Executive Officer of Petrochemical Holding GmbH, Iakov Goldovskiy, said the projects could attract substantial foreign direct investment while creating lasting national value through industrial development, environmental restoration, employment generation, and export-led growth.

He expressed confidence that the partnership would help establish Ghana as a leading regional hub for mining chemicals, responsible resource recovery, and value-added industrial manufacturing.