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Deputy Minister assures the running of VALCO
Edited by : AL CIRCLE
1 min read
Deputy Minister-designate for the Ministry of Energy and Petroleum, John Abdulai Jinapor, yesterday, appeared before the Appointments Committee of Parliament, and told its members that the government would not sit idle and see the Volta Aluminum Company collapse.
He said, as per the assessment carried out on the company that was once the leader in the production of alumina in the sub-region, VALCO was still a viable venture which needed capital investment to operate at full capacity. "Ultimately, I believe VALCO can be made into a profit-making venture," he noted. According to Mr. Jinapor, VALCO was currently operating one out of its five port lines, due to unavailability of energy.
"If we have enough energy, VALCO can run on all the five port lines. And with those five port lines, we can produce 2,000 metric tonnes of alumina per day at the current market price of between 2,500 to 3,000 metric per ton.
"We are talking of $500,000 per annum, almost equivalent to what we get from the oil industry," noted the 34 year old former Spokesperson to President.
He said, as per the assessment carried out on the company that was once the leader in the production of alumina in the sub-region, VALCO was still a viable venture which needed capital investment to operate at full capacity. "Ultimately, I believe VALCO can be made into a profit-making venture," he noted. According to Mr. Jinapor, VALCO was currently operating one out of its five port lines, due to unavailability of energy.
"If we have enough energy, VALCO can run on all the five port lines. And with those five port lines, we can produce 2,000 metric tonnes of alumina per day at the current market price of between 2,500 to 3,000 metric per ton.
"We are talking of $500,000 per annum, almost equivalent to what we get from the oil industry," noted the 34 year old former Spokesperson to President.
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