Ghana government to resurrect aluminium company VALCO

<p>The Volta Aluminium Company (VALCO), owned by the government of Ghana,&nbsp;&nbsp; will be resurrected by the government in order to attain ideal capacity. In recent years, the Volta Aluminium Company (VALCO) has faced challenges in energy supply and huge debts.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/PrimaryJan21.jpg" alt="News" width="517" height="226" /><br />Mr Yaw Osafo Maafo, Senior Minister Designate said that the government will implement measures to restore production capacity at the VALCO. He said the country needs VALCO because &ldquo;we need to push the aluminium integrated project concept.&rdquo;<br /><br />He told the Appointments Committee on Friday, VALCO&rsquo;s problem is availability of power&rdquo;, adding that Ghana has &ldquo;a lot of bauxite and we must go back to integrate it by converting bauxite to alumina to enable VALCO use it.<br /><br />{googleAdsense}<br /><br />He further stated, "It is an integration the government has mentioned in the manifesto and, therefore, VALCO will be encouraged to operate. We have to find ourselves the power and I think we will do it.&rdquo;<br /><br />African Centre for Energy Policy (ACEP), Energy think-tank based in Ghana had previously pointed out that VRA&rsquo;s financial issues could be tackled if right financial model is implemented, allowing VRA to&nbsp; claim outstanding debts and to increase liquidity.<br /><br /></p>