Chairman of the Mines and Energy Committee of parliament, Mr Emmanuel Akwasi Gyamfi has justified the Ghana National Petroleum Corporation’s (GNPC) acquisition of a land for $8.5 million in Takoradi in the Western region.

The two-hundred-thousand-acre land is earmarked for the establishment of a petroleum hub.

According to the GNPC’s work plan, submitted to the parliament for approval, an amount of $50million has been allocated for co-investment with a selected partner to establish a company in a selected area of oil refinery, fertiliser plant, and petroleum tank farm among others.

The Minority on Wednesday, 10 April 2019 questioned the amount involved in the purchase of the land leading to the House deferring approval of the work plan.

But speaking to Class News’ parliamentary correspondent, Ekow Annan, Chairman of the Mines and Energy Committee, Mr Emmanuel Akwasi Gyamfi defended the work plan and the amount involved.

The lawmaker said: “The allocation of 60 million for the development of petroleum hub for the western enclave or Western region is something that our brothers from the minority side are very excited about and our side is also excited about it.

“What you haven’t asked is; ‘what is the acreage of land we are looking for, for this project’? It is 200,000 acres of land.

“Because of the activities of oil companies in the Western region the value of land has increased so if even an acre of land is $20,000, or $30,000 or even $50,000, you’ll get a rough idea of the [price]”.