Business News of Friday, 23 October 2020Source: www.ghanaweb.comPetroleum Hub Development Corporation Bill, 2020 approved by ParliamentFile photo [FPSO Nkrumah vessel]Parliament has granted the passage of the Petroleum Hub Development Corporation Bill, 2020, towards the advancement of a petroleum and petrochemicals sector. This is according to a report of the Select Committee on Mines and Energy in Parliament. Subsequently, a network of pipelines will supply petroleum and petrochemical products for both domestic and sub-regional markets in the region. Also, the establishment of Petroleum and Petrochemical Hub is projected to contribute immensely to the economic development of Ghana through value addition and job creation. Out of this amount, the Government of Ghana is expected to contribute US$6 billion representing 10 percent of the total investment cost.

Source: GhanaWeb October 23, 2020 14:37 UTC