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Business News of Wednesday, 10 July 2019

Source: www.ghanaweb.com

First phase of new pipeline infrastructure project to commence soon – Bawumia

Vice President, Dr. Mahamudu Bawumia has announced plans by government to commence the first phase of a new pipeline infrastructure project that will ease the movement of petroleum products across the sub-region.

For this to be accomplished, the Vice President said government is working on a petroleum transportation infrastructure master plan that will enhance the pace of infrastructure sourcing and further play a key role in the African Continental Free Trade Agreement.

Speaking at the Ghana International Petroleum Conference (GhipCon) 2019 on the theme “Regional Collaboration: A Catalyst for Transformation”, Dr. Bawumia said there will be easy flow and movement of petroleum products from Tema to Akosombo to Buipe and other towns after the establishment of the project.

According to him, not only will the petroleum transportation infrastructure project ease the movement of petroleum products across the country, it will also link Ghana to the sub-regional market thereby deepening the regional integration agenda of the Akufo-Addo-led government to fulfil the objectives of the African Continental Free trade Agreement.

Dr. Bawumia further indicated that the project will “facilitate the development of an alternative transportation infrastructure for petroleum products such as railway lines, pipelines and river badges to major demand centres across the country”.

Moreover, he revealed that the project will soon be presented to cabinet as the ministerial committee working on the master plan has finalised its work.

Wooing investors to patronise Ghana’s petroleum products, Dr. Bawumia said his government plans on making Ghana the petroleum hub in Africa, reason they are creating an enabling environment for both downstream and upstream companies.



He further added that Ghana’s “unique geographical positions, democratic stability and security require that we provide leadership in building an integrated infrastructure to serve the sub-regional petroleum industry”.

GhipCon is Ghana’s foremost Petroleum Downstream Conference organised under the auspices of the Ministry of Energy and the National Petroleum Authority in partnership with the Ghana Chamber of Bulk Oil Distributors and the Association of Oil Marketing Companies.

The three-day conference is designed to actively bring to the fore the operating industry’s perspective and guidance on issues of governmental and regulatory policy as well as best practices for the advancement of the industry, not only Ghana but across the West African sub-region and beyond.

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