By; Ashiadey Dotse
The Managing Director of Tema Oil Refinery (TOR), Dr. Yussif Sulemana, has said that the refinery needs $25 million to start working at full capacity again.
Speaking to journalists in Accra on Monday, March 17, Dr. Sulemana explained that the refinery is currently not running efficiently due to financial problems and old equipment. He stressed that getting this investment would help Ghana produce more fuel locally and reduce reliance on imported fuel.
He also revealed that seven companies are interested in investing in the refinery. Some companies want to be partners, while others want to take over the entire facility to revive it.
“If we get $25 million now, we can start running the refinery and produce fuel that meets international standards,” Dr. Sulemana said.
Tema Oil Refinery has been an important part of Ghana’s energy sector for many years. However, financial challenges and lack of investment have caused it to slow down operations. If the needed funds are secured, the refinery can produce fuel efficiently and at lower costs, benefiting the country.
The revival of TOR could help stabilize fuel prices and create more jobs in the energy sector. Dr. Sulemana remains hopeful that investors will provide the needed funds soon.
