The 24-Hour Economy and Accelerated Export Development Authority has signed a Memorandum of Understanding with Petrochemical Holding GmbH to establish two strategic industrial projects in Ghana, involving an estimated investment of approximately US$700 million.
According to a 24-Hour Economy & Accelerated Export Development Programme (24H+) press release, the partnership will establish an integrated chemical production manufacturing complex for sodium cyanide and chlor-alkali-caustic soda, as well as a gold tailings recovery and environmental remediation platform.
The private vehicle for the Ghana projects will be GreenRock Petrochemical Ghana Limited, a joint venture formed between GreenRock—a Gulf-region company contributing financing and strategic development—and Petrochemical Holding GmbH, an established chemical industry group with more than 30 years of experience in petrochemicals and large-scale project delivery.
Under the MoU framework, Petrochemical Holdings will bring technical capability to support a structured programme for gold recovery focused on identifying suitable sites, testing recoverable materials, recovering economic value where viable, and supporting responsible clean-up and rehabilitation.
The chemical production complex is intended to establish a new strategic industry for Ghana by moving the country from reliance on imported sodium cyanide and caustic soda to domestic production capable of meeting national consumption. The plants would also have the capacity to serve the wider West African demand, positioning Ghana as a potential regional supplier of critical mining-sector and industrial inputs and reducing exposure to foreign supply chains, pricing shocks, and geopolitical disruption.
The Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, Goosie Tanoh, said the MoU with PCH will advance Ghana's industrialisation drive, export promotion, and sustainable job creation. "We welcome local and international private sector businesses, investors and development partners who align with President Mahama's 24-Hour Economy Transformation Agenda, to work with us to help achieve this imperative national goal," he said.
Mr. Iakov Goldovskiy, CEO of Petrochemical Holding GmbH, said: "Large-scale industrial projects of this kind have the potential to mobilise significant direct foreign investment into Ghana and create long-term national value through jobs, industrial capacity, environmental recovery and sustainable export-led growth."
"Through this partnership, we believe Ghana can strengthen its position as a regional hub for mining chemicals, responsible resource recovery and value-added industrial production," he added.
The subsequent steps to be taken will be feasibility studies, obtaining regulatory and environmental approvals, signing definitive agreements, and reaching final investment decisions for both projects.