The Effutu Municipal Assembly is facilitating the process of setting up an oil refinery between Nsuekyir and Gyangyanadze by the Kalahari Investment Company Limited.

The Central Regional Minister, Mr Samuel Sarpong, announced this at a durbar of chiefs of Effutu to mark their annual Aboakyer festival in Winneba on Saturday.

He said when completed, the company would initial refine capacity of 200,000 BPSD of oil and rises to 400, 000 BPSD in ten years period.

Mr Sarpong said 80 per cent of the refined oil would be exported whilst 20 per cent would be utilized in Ghana.

He said the company had completed discussion with chiefs in the area on the acquisition of 2,600 acres of land under the auspices of the Municipal Assembly for the project.

The Regional Minister urged the technocrats at the Assembly to engage the company for the mutual benefit of the people.

He said one of the core strategies for achieving the ‘Better Ghana Agenda’ was the adoption of the Public Private Partnership (PPP) initiatives by the government.

This is in view of the limited resources at the government’s disposal against the backdrop of the enormous development needs of the country, he said.

“We are willing to link up with other development stakeholders and the investor community to develop the Aboakyer festival into a large scale event that is unequaled in this country”.

The Regional Minister said investors need to be certain on the political environment since they only put their money in a peaceful and conducive environment.

The Municipal Chief Executive for Effutu, Nii Ephraim said the district is enjoying development interventions like the Urban Development Grant, district Assembly common fund, community Water and Sanitation programme.