The government has begun moves to secure strategic investment partners to revive the Volta Aluminium Company (VALCO), as the country’s flagship aluminium producer continues to operate far below its installed capacity.
The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, disclosed that Cabinet has taken a strategic decision to modernise and revitalise the company, which he said has been weakened by years of financial and operational challenges.
Mr Buah made the remarks after an engagement with the management and staff of VALCO, where he outlined government’s plans to restore the company’s productivity and competitiveness.
According to the Minister, VALCO’s current state does not reflect its full potential, with only about 90 of the smelter’s 500 reduction cells currently operational.
The situation, he said, has left the company producing far below its original installed capacity and limits its contribution to Ghana’s industrial development.
Mr Buah said government is therefore inviting investors with the technical expertise and financial capacity to partner with the state in rebuilding the aluminium company.
He clarified that no investor has been selected yet, stressing that the process remains open and will focus on securing the best partnership to guarantee VALCO’s long-term survival.
“The objective is simply to revive VALCO, not to sell it,” the Minister said.
He added that government remains committed to protecting the strategic national asset while providing it with the capital, technology and support required to operate efficiently.
A revitalised VALCO, he noted, would create more employment opportunities, increase local value addition to Ghana’s mineral resources, strengthen the manufacturing sector and improve the country’s competitiveness in the global aluminium industry.
VALCO, established in 1967, has historically been a key component of Ghana’s industrialisation agenda but has struggled with production challenges, including inadequate power supply, financial difficulties and ageing infrastructure.
