Takoradi Polytechnic, located in Ghana's oil-rich western region, has revealed plans to begin the construction of a US$10mn School of Petroleum Studies in 2013
The rector of the polytechnic, Daniel Nyarko, made the announcement at the 12th congregation of the school held in Takoradi and added that authorities had acquired more than 600,000 square metres for the project, which will be funded by the African Development Bank (AfDB).
Ghana News Agency reported that the project would involve the construction of 15 structures, including lecture theatres, laboratories, recreational and workshop facilities.
The polytechnic has also signed two MoUs with investors for the provision of staff and student accommodation and a medical facility at the campus.
According to Nyarko, the establishment of the energy learning institution will help the West African state properly position its people for the management of its petroleum resources.
Nyarko added that, despite commercial quantities of offshore oil reserves in Ghana being discovered in the 1970s, the country did not start significant commercial oil production until December 2010 and the commodity has largely accelerated the growth of the economy.