The Director of Research at the Institute of Economic Affairs, Dr John Kwabena Kwakye, has requested the government to refurbish the Tema Oil Refinery (TOR).

This comes after President Nana Addo Dankwa Akufo-Addo indicated the government’s plans to build new refineries in Ghana as a part of the country’s industrialization drive.

“We are busily building an integrated bauxite and aluminium industry and an integrated iron and steel industry, building new oil refineries and have, so far, attracted six (6) of the world’s biggest automobile manufacturers to set up assembling plants in Ghana, prior to producing them in the country,” a part of his speech at the 77th United Nations General Assembly assembly read.

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Reacting to the plans of the government to assemble new oil refineries within the country, Dr John Kwakye deemed the transfer a laudable one.

However, he was insistent that the TOR be refurbished whatever the cost concerned as a result of “it is a viable investment”.

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Earlier, the Institute of Energy Security (IES) had indicated that TOR’s collapse was imminent and that the government wanted to intervene to optimize its operations. 

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