Government moves to revive VALCO, create jobs and restore Ghana’s aluminium industry – Armah-Kofi Buah

Government moves to revive VALCO:  The government has clarified that it has not sold the Volta Aluminium Company Limited (VALCO), but is instead exploring strategic investment opportunities to revive the company, improve production and create more employment opportunities for Ghanaians.

The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, made the clarification during a visit to VALCO, where he explained that the government’s priority is to restore the company to its former strength and ensure it contributes meaningfully to Ghana’s industrial development.

According to the Minister, several challenges have affected VALCO’s operations over the years, including outdated equipment, damaged production cells, high operational costs and financial difficulties.

He noted that many of the machines currently being used are old and frequently break down, affecting the quality and quantity of aluminium produced.

The Minister explained that if VALCO continues operating with outdated systems, the company risks losing customers due to concerns about product quality.

He added that the company’s financial situation has also affected its ability to meet obligations, including payments to power producers and suppliers who provide essential services and materials needed for operations.

“Many things have happened, and everyone is giving their own side of the story. But the reality is that the government has assessed VALCO’s situation and is taking steps to change its fortunes,” the Minister said.

He stressed that turning around VALCO requires major investment in modern equipment, improved technology and better management systems to enable the company to produce quality aluminium products that can compete on the global market.

The Minister further explained that the government has created an opportunity for investors who are willing to partner with VALCO and inject the needed capital into the business.

He said such investment will help upgrade the company’s facilities, improve productivity, protect existing jobs and open up new employment opportunities for young Ghanaians.

The Lands Minister dismissed claims that the government has sold VALCO, describing such reports as inaccurate.

He explained that the government’s approach is to find credible partners who can support the revival of the company while ensuring that Ghana continues to benefit from its aluminium resources.

The move, he said, forms part of efforts to restore VALCO’s reputation, strengthen Ghana’s industrial sector and return the company to a position where it can contribute significantly to national development.