The Finance Minister Ken Ofori Atta has disclosed that the Tema Oil Refinery (TOR) will continuously run again latest by first quarter of 2018.
‘I am happy to say that things are changing, latest by the first quarter 2018, we expect the TOR to run continuously again,” he said.
According to him, the oil and gas fields will provide the country with the perfect opportunity to create a petrochemical industry in Ghana.
“Our oil and Gas fields provide us with the perfect opportunity to create a petrochemical industry in Ghana. To do so we will have to leverage our oil and gas resources and develop different assets as a vision in a plan to create a petrochemical hub in Western region,’ he stated when he addressed the 3rd Aliu Mahama memorial lectures in Accra.
He assured that TOR will bounced back to play its role in the petrochemical industry.
TOR has encountered some challenges resulting in several closures.
He stated that steps must be taking to build capacity of local banks to become major participants in Ghana’s multi-billion dollar money market.