The 24-Hour Economy and Accelerated Export Development Authority (24H+) has signed a Memorandum of Understanding (MoU) with Petrochemical Holding GmbH (PCH) to develop a US$700 million integrated chemical manufacturing complex and a gold tailings recovery platform aimed at accelerating Ghana’s industrialisation and export growth.
The agreement marks one of the largest industrial investment commitments under the government’s 24-Hour Economy programme and is expected to create significant employment opportunities while strengthening the country’s manufacturing base.
The proposed chemical production complex will manufacture sodium cyanide and chlor-alkali products, including caustic soda, for use in Ghana’s mining, water treatment and industrial sectors.
The project is also expected to position Ghana as a regional supplier of these critical industrial chemicals, reducing dependence on imports and enhancing supply chain resilience across West Africa.
The projects will be undertaken through GreenRock Petrochemical Ghana Limited (PCH Ghana), a joint venture between Gulf-based GreenRock and Petrochemical Holding GmbH.
GreenRock will provide financing and strategic development support, while PCH will contribute its more than three decades of expertise in petrochemicals, chemicals and large-scale industrial project delivery.
Beyond chemical production, the partnership includes the development of a gold tailings recovery and environmental remediation platform.
Under the MoU, PCH will provide technical expertise to identify suitable sites, assess recoverable materials and implement environmentally responsible gold recovery while rehabilitating degraded mining areas.
The initiative seeks to improve environmental protection by restoring mining sites, safeguarding water bodies and promoting more responsible mining practices across the country.
According to the parties, the projects align with President John Dramani Mahama’s industrial transformation agenda by promoting local production, reducing import dependence and creating value across Ghana’s mining and industrial supply chains.
The chemical manufacturing complex will utilise salt as a key raw material to produce caustic soda and other chlor-alkali products used in water treatment, disinfection and a range of industrial applications.
The facility is expected to meet domestic demand while supplying neighbouring markets, strengthening Ghana’s position as a manufacturing hub in the sub-region.
The Presidential Adviser on the 24-Hour Economy and Accelerated Export Development said the agreement represents another milestone in advancing Ghana’s industrialisation agenda.
He noted that the partnership would support export expansion, create sustainable jobs and contribute to building an economy that operates productively around the clock.
He also invited local and international investors, private sector businesses and development partners to collaborate with the government in implementing the 24-Hour Economy Transformation Agenda.
Chief Executive Officer of Petrochemical Holding GmbH, Mr. Iakov Goldovskiy, described the projects as transformative investments capable of attracting substantial foreign direct investment into Ghana.
He said the partnership would generate long-term economic value through industrial capacity expansion, employment creation, environmental restoration and export-led growth.
Mr. Goldovskiy added that the initiative would strengthen Ghana’s position as a regional hub for mining chemicals, responsible resource recovery and value-added industrial production.
The parties indicated that the next phase of the partnership will involve conducting detailed feasibility studies, securing the required regulatory and environmental approvals, negotiating definitive agreements and taking final investment decisions before construction begins.
