Ministry seeks external investment to accelerate VALCO’s transformation

The Ministry of Lands and Natural Resources is seeking external investment to expedite the revitalization of the Volta Aluminium Company (VALCO), as part of the government's Resetting Agenda to enhance the smelter's operational capacity. The Ministry has crafted a five-year strategic plan, with an initial focus on optimizing existing operations and fully leveraging VALCO's two-potline capacity.

Presenting the Ministry's progress report, Chief Director Mr. Innocent Marcus Haligah reported that VALCO's operational pots had risen from 114 to 200 as part of their efforts to boost production capacity. While acknowledging that numerous challenges persist, Mr. Haligah emphasized the advancements made since the government took office approximately one and a half years ago.

He emphasized that with another year and a half, they could complete the optimization phase. Mr. Haligah also appealed for external assistance to hasten VALCO's transformation, noting that the Ministry is in discussions with potential investors. Once the negotiations are finalized, the proposal will be presented to Cabinet for review and decision.

The proposed investment is expected to bolster the Ministry's overarching objectives to restore VALCO's operations and reinforce its role in Ghana's industrial development.