The 24-Hour Economy and Accelerated Export Development Authority (24H+) has signed a landmark Memorandum of Understanding (MoU) with Petrochemical Holding GmbH (PCH) to establish two major industrial projects in Ghana, with an estimated investment of US$700 million.
The agreement, signed in Accra, covers the establishment of an integrated chemical production complex for sodium cyanide and chlor-alkali/caustic soda as well as a gold tailings recovery and environmental remediation platform aimed at boosting industrial growth, creating jobs and promoting sustainable mining.
The proposed chemical manufacturing complex is expected to reduce Ghana’s dependence on imported sodium cyanide and caustic soda by producing the products locally to meet domestic demand while positioning the country as a key supplier to the wider West African market.
According to the 24H+ Authority, the projects form part of efforts to drive President John Dramani Mahama’s industrial transformation agenda by expanding local manufacturing, increasing exports, strengthening mining and industrial supply chains and creating long-term employment opportunities.
The projects will be undertaken through GreenRock Petrochemical Ghana Limited (PCH Ghana), a joint venture between GreenRock, a Gulf-region investment company, and Petrochemical Holding GmbH, a chemical industry group with more than three decades of experience in petrochemicals, chemicals and large-scale industrial projects.
Under the agreement, PCH will also provide technical expertise for a structured gold recovery programme that will identify suitable gold tailings sites, assess recoverable materials, recover valuable minerals where economically viable, and support environmental clean-up and land rehabilitation.
The initiative is expected to improve environmental protection, safeguard water bodies and promote more responsible mining practices across the country.
The chemical production complex will use salt as its primary feedstock to manufacture caustic soda and other chlor-alkali products for water treatment, disinfection and various industrial applications, creating a new strategic industry for Ghana.
The Presidential Adviser on the 24-Hour Economy and Accelerated Export Development said the partnership marks another significant step towards accelerating industrialisation, promoting exports and creating sustainable jobs under the government’s 24-hour economy programme.
He called on local and international investors, private sector businesses and development partners to support the implementation of President Mahama’s transformation agenda to help build an economy that works around the clock.
Chief Executive Officer of Petrochemical Holding GmbH, Iakov Goldovskiy, described the partnership as a major opportunity to attract significant foreign direct investment into Ghana while creating lasting value through industrial development, environmental recovery and export-led growth.
He expressed confidence that the collaboration would strengthen Ghana’s position as a regional hub for mining chemicals, responsible resource recovery and value-added industrial production.
The two parties will now proceed with feasibility studies, secure the necessary regulatory and environmental approvals, negotiate definitive agreements and take final investment decisions before construction begins.
