The Outgoing Managing Director of Engen who is also the Chairman of the Association of Oil Marketing Companies, Henry Akwaboah has called on the government to quickly privatize the Tema Oil Refinery before investors lose interest.

According to him, it is time to allow Private Sector Participation as successive governments have failed to retool and operationalize the country’s once viable asset.

His call comes at a time the Minister of Energy Dr. Mathew Opoku Prempeh had given the firm assurance of revitalizing TOR.

Commenting on the matter in an interview with Class Business’ Pious Kojo Backah, Henry Akwaboah stated that should government privatize TOR, the job opportunities will be enormous.

“In any case if we have private participation in there, it doesn’t mean loss of jobs or anything. If you’re building the capacity you’re creating more jobs. A 300,000-barrel capacity refinery is going to create so many jobs for everyone,” he noted.

He noted that privatization is necessary because TOR is not functioning but incurring debts so the involvement of private investment will revamp the facility.