The 24-Hour Economy and Accelerated Export Development Authority (24H+) has signed a Memorandum of Understanding (MoU) with Petrochemical Holding GmbH (PCH) to develop a $700 million integrated chemical manufacturing complex and gold tailings recovery platform in Ghana.
The landmark investment will see the establishment of a sodium cyanide and chlor-alkali (caustic soda) production facility, alongside an environmental remediation and gold recovery programme aimed at improving sustainability in the mining sector.
The two parties say the initiative is among the largest industrial investments being pursued under the government’s 24-Hour Economy programme and is expected to create thousands of jobs while expanding Ghana’s manufacturing base and export potential.
The projects will be delivered through GreenRock Petrochemical Ghana Limited (PCH Ghana), a joint venture between GreenRock, a Gulf-based investment company, and Petrochemical Holding GmbH, an international chemical industry group with more than three decades of experience in petrochemicals, chemicals and large-scale industrial developments.
As part of the agreement, PCH will provide technical expertise for a structured gold recovery programme that will identify suitable sites, assess recoverable materials and support environmental clean-up and land rehabilitation. The initiative is expected to strengthen environmental protection, safeguard water bodies and encourage more responsible mining practices.
The partnership also aligns with President John Mahama’s industrial transformation agenda by expanding local manufacturing, reducing dependence on imported industrial chemicals, creating value within the mining supply chain and supporting long-term economic growth.
A key component of the project is the local production of sodium cyanide and caustic soda, two essential industrial chemicals currently imported into Ghana. By manufacturing them locally, the facility is expected to meet domestic demand while supplying markets across West Africa.
The investment is also intended to position Ghana as a regional production hub for critical mining and industrial chemicals, helping to reduce exposure to global supply chain disruptions and price volatility.
Using salt as its primary raw material, the plant will produce caustic soda and other chlor-alkali products used in water treatment, disinfection and a wide range of industrial applications.
Speaking after the signing, the Presidential Adviser on the 24-Hour Economy and Accelerated Export Development described the agreement as a significant milestone in Ghana’s industrialisation drive.
“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 in achieving this important national objective,” he said.
Chief Executive Officer of Petrochemical Holding GmbH, Iakov Goldovskiy, said the investment has the potential to reshape Ghana’s industrial landscape.
“Large-scale industrial projects of this kind can attract substantial foreign direct investment into Ghana while creating lasting national value through employment, industrial development, environmental restoration and sustainable export-led growth,” he said.
He added that the partnership could strengthen Ghana’s position as a regional hub for mining chemicals, responsible resource recovery and value-added industrial production.
The next phase of the project will involve detailed feasibility studies, regulatory and environmental approvals, negotiations on definitive agreements and final investment decisions before construction begins.