TOR requires $25m for full revamp – MD

According to its managing director, Dr. Yussif Sulemana, the Tema Oil Refinery (TOR) requires an estimated $25 million for a complete revamp to resume full operations.

Speaking in Accra, he highlighted the refinery’s crucial role in reducing Ghana’s dependence on imported refined fuel and producing petroleum products that meet international standards.

Seven companies have expressed interest in investing, with varying levels of commitment. Some potential partners are willing to take over the entire facility for refurbishment.

TOR has historically played a key role in Ghana’s energy sector but has struggled with financial constraints, aging infrastructure, and inefficiencies. Dr. Sulemana emphasized that securing funds would restore the refinery’s full capacity, enhancing local fuel production and reducing reliance on imports.