American firm to build refinery in Ghana

June 7, 2008 (Back Page Lead)

BARCLAYS Gerdi Group Incorporated (BBG), a US-based company, has expressed interest in establishing a $1.7 billion oil refinery in the country.
The group is currently holding talks with government agencies to pave the way for the smooth take-off of the project.
When established, the refinery is expected to process 100,000 barrels of crude oil a day, almost twice of what the Tema Oil Refinery (TOR) produces presently.
The company is also expected to establish a $350 million cement plant to process 50,000 tonnes of white cement a day.
In an interview with the Daily Graphic, the local representative of the group, Mr Hamid Moomen, said the refinery and the cement plant would provide permanent employment for more than 3,000 Ghanaians and temporary employment for 4,000 local and foreign workers during the construction stage.
According to him, employees would be provided with accommodation while the country’s railway sector would also benefit due to the plans of BGG to construct modern railway lines to carry its products.
Another benefit to be derived from the refinery was the generation of electricity for the refinery’s operations out of which the excess electricity generated would be fed into the national grid.
Mr Moomen, who is also Chairman of Moomen Group in the USA, said BGG would begin construction works before the end of the year immediately it received permit from the appropriate authorities to operate in the country.
He further explained that the minimal design and construction time period would be four years after all arrangements had been finalised.
He said the company would acquire a 6,000 hectare most preferably in Takoradi for the establishment of the refinery and cement plants while a college of technology would be constructed to train employees locally in refinery operations.
Facilities to be provided include a modern satellite city fitted with potable water and sewage systems, shopping malls, schools, a clinic, pharmaceutical shops, supermarkets, fire fighting stations, banks, playgrounds, parks, fuel filling stations, a library, cinemas and other needed facilities that would help employees and their families not to travel too far for their regular daily needs.
He was particularly grateful to the Chief of Staff, Mr Kwadwo Mpiani, who he said had been very instrumental in assisting the BGG to invest in Ghana.
BGG, which operates in Gabon, Angola, Algeria and Tunisia has to its credit the installation of water, sewer gas and oil pipelines, the construction and development of cement plants, satellite cities, roads, shopping malls, oil refineries and the distribution of security equipment.