PHDC, Mighty Gager sign $1 billion MoU for construction of storage tanks

The Petroleum Hub Development Corporation (PHDC) and Mighty Gager Company Limited have signed a Memorandum of Understanding (MoU) for the construction of 2 million metric tons of storage tanks at Jomoro in the Western Region.

Chief Executive Officer of PHDC, Dr Toni Aubynn, lauded the move by the CEO of Mighty Gager Company Limited, Kevin Gager, at the signing ceremony held at the premises of the Corporation on March 17, 2026.

“I want to thank you for your desire to partner with us. I believe this will not just be an MoU signing but the first step towards seeing tank farms of two million metric tons of storage being developed,” Dr Aubynn said.

He added that building a petroleum hub goes beyond the development of storage tanks and petrochemical plants, noting that it also involves strategically positioning Ghana to control and benefit from the petroleum trade and related businesses within the region.

Dr Aubynn emphasised that Ghana is well positioned geographically and economically to host such a large-scale petroleum infrastructure and become a key player in the global petroleum value chain.

Also speaking at the ceremony, CEO of Mighty Gager Company Limited, Kevin Gager, revealed that his company is prepared to move swiftly following the signing of the MoU.

“We are expected to hit the ground running. This is the first step of the agreement,” he stated.

Gager also explained that his company is already engaging with its foreign partners to formally commence activities under the agreement, noting that preparations are underway to ensure the project moves forward without delay.

“We are moving in fast with our partners to formally get things going,” he added.

According to him, the project will create many jobs for Ghanaians, both directly and indirectly.

The $1 billion investment in storage tanks is expected to significantly boost capacity within the Petroleum Hub while supporting regional petroleum trade and distribution.

The agreement marks an important milestone in Ghana’s vision to develop a world-class petroleum and petrochemical hub, which is set to reduce dependence on imported fuel, create jobs, and position the country as an energy corridor for petroleum refining, storage, and distribution within the West African sub-region and beyond.

The Petroleum Hub Project will be located in Jomoro, in Ghana’s Western Region. The hub will comprise: Three refineries with a total capacity of 900,000 barrels per stream day (BPSD), Five petrochemical plants with a minimum capacity of 90,000 BPSD. Storage tanks with a cumulative capacity of 10 million cubic meters and at least two jetties to support import and export activities.

The project is poised to position Ghana as a leading petroleum and petrochemical hub in Africa, enhancing regional energy security and economic integration.