President Akufo-Addo has highlighted ongoing efforts toward the complete revitalisation of the Tema Oil Refinery.
This declaration came during the inauguration ceremony of the Santuo Oil Refinery, owned by the Chinese firm, Santuo Group, in Tema.
Emphasising the potential of a fully operational Tema Oil Refinery alongside the Santuo Oil Refinery, President Akufo-Addo underscored Ghana’s capability to locally refine a significant portion of its oil, reducing dependence on imported refined products.
Energy Minister Dr. Mathew Opoku Premier (NAPO) extended an invitation to foreign investors to participate in the energy sector, aiming to enhance its productivity.
He commended the Santuo Group for its substantial investment in the Santuo Oil Refinery.
Initially processing 40,000 barrels of oil daily, the Santuo Oil Refinery aims to gradually increase its capacity to 100,000 barrels per day in its first phase.
Xu Ning Quan, the Executive Chairman of Santuo Group, expressed gratitude for the collaborative efforts involving government institutions and traditional authorities that facilitated the establishment of the Santuo Oil Refinery.
Despite being Chinese-owned, Mr. Xu Quan affirmed their deep commitment to Ghana’s progress, particularly in the energy domain, highlighting Ghana as their second home.