President Mahama says government’s vision is to make Ghana a downstream Petroleum hub for West Africa.
For this reason, it would ensure that the Tema Oil Refinery TOR goes through rehabilitation to ensure its sustainability.
The President stated this when he and his Trinidadian counterpart, Dr Keith Christopher Rowley, toured the Refinery as well as the Volta Aluminium Company VALCO, at Tema.
The Tema Oil Refinery, TOR, used to be a central block for the country’s industrial growth since the 1960’s.httphttp://ghanapoliticsonline.com
Due to management and other issues, the facility ran into huge debt resulting into a near shut down.
Luckily through government intervention the facility is now on its feet.
Trinidad and Tobago is rich in oil and natural gas and is termed the most prosperous in the Caribbean.
Furthermore, the country’s economy is basically industry based with emphasis on petroleum and Petrochemicals.
Ghana hopes to tap into the expertise of Trinidad and Tobago in the management of its oil and gas.
Trinidad brings on board compelling reasons for developing local content and participatory policy in the Oil sector.
Addressing a durbar at TOR, President Mahama emphasised that TOR would not be sold or privatized.
The delegation also toured the Volta Aluminium Company, VALCO. Trinidad has an aluminium smelter facility too but it’s currently redundant.
Prime Minister Rowley therefore has huge interest in VALCO as there is a lot to be learnt.