The processing capacity of the new oil refinery in the municipality is expected to increase to 400,000 BPSD in about 10-years time.
Kalahari Investment Company will execute the refinery project, which is anticipated to be located between Nsuekyir and Gyangyanadze areas.
Ghana Central Regional Minister Samuel Sarpong said almost 80% of the processed oil will be exported, while the remaining 20% will be used locally.
According to the Minister, the limited resources in the country can be put to better use following an adoption of Public Private Partnership initiative by the government.
Kalahari has completed the discussions regarding the acquisition of 2,600 acres of land for the project with the Municipal Assembly.
