Ghana government to resurrect aluminium company VALCO
The Volta Aluminium Company (VALCO), owned by the government of Ghana, 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.
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 “we need to push the aluminium integrated project concept.”
He told the Appointments Committee on Friday, VALCO’s problem is availability of power”, adding that Ghana has “a lot of bauxite and we must go back to integrate it by converting bauxite to alumina to enable VALCO use it.
{googleAdsense}
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.”
African Centre for Energy Policy (ACEP), Energy think-tank based in Ghana had previously pointed out that VRA’s financial issues could be tackled if right financial model is implemented, allowing VRA to claim outstanding debts and to increase liquidity.
Global primary aluminium market ends in a 970,000-tonnes deficit in 2016, reports WBMS
Next articleAlCircle sets the stage for Aluminium and New Materials Roundtable: A Review
Grow with
AL Circle
