Lands Minister backs calls for strategic investor to revive VALCO
The government is considering the involvement of a strategic investor to restore the Volta Aluminium Company (VALCO) to full-scale production, with the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, warning that the company’s current operating position is unsustainable.
The government of Ghana is considering the involvement of a strategic investor to revive the struggling Volta Aluminium Company (VALCO), according to Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah. During a recent policy engagement, Buah warned that VALCO's current operating position is unsustainable, stating that the company operates well below its full capacity and is "bleeding."
He emphasized that significant industrial potential exists for VALCO, but fresh investment is necessary to rehabilitate the smelter and support Ghana's ambition of developing an integrated aluminium industry. The minister's comments highlight the need for a strategic investor to address the operational challenges faced by the state-owned company, which currently only operates a fraction of its capacity.
Brief written by urgent.news from MyJoyOnline Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
