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"We'll Implement The 'Master Plan' To Attract The Needed Investments"-Lands Minister To Valco (PICS)

The Minister for Lands and Natural Resources, Hon. Samuel A. Jinapor has assured the leadership of the Volta Aluminum Company Limited (VALCO) that they will together implement the master plan in order to attract the needed investments.

According to the Minister, government is ever ready support Valco in achieving such targets.

Speaking at a one day working visit to Valco, the Minister said ""We have moved from the vision of government in making Ghana an Integrated Aluminum Industry into practicalizing the goals set out and once we get cabinet approval, we will implement the 'Master Plan' to attract the needed investment".

The Minister also hinted that government will ensure that equipment which have been in use since 1960's will be upgraded.

Mr. Jinapor further mentioned that as part of efforts towards building a robust and effective Aluminum Industry in Ghana, his ministry will in the coming weeks present the 'VALCO MASTERPLAN' to cabinet for consideration.

He stressed that when given the approval, it will help to resuscitate the operationalization of VALCO through the Ghana Integrated Aluminum Development Corporation's (GIADEC) Integrated Aluminum Industry (IAI) project 4, which is to retrofit, modernize and ensure the expansion of VALCO smelter to improve efficiency and capacity.

Project 4, when implemented, according to the Sector Minister, will increase VALCO's production capacity from 200,000 to 300,000 tonnes of aluminum annually and create employment opportunities for more than 600 people.

Commending GIADEC on its current development, the sectorMinistersaid "GIADEC is on course in giving VALCO a leaf of life".

"The creation of an Aluminum Industry is one of the major pillars for transforming the Ghanaian economy" has gathered that the one day working visit becomes the first time, the sector Minister has visited the the facility since 2016.

On his part, the CEO of GIADEC, Micheal Ansah disclosed that his outfit is working closely with VALCO to ensure the realization and execution of project 4 of the Integrated Aluminum Industry (IAI) adding that GIADEC has the mandate to develop and promote an Integrated Aluminum company in Ghana.

He said "GIADEC will require $6 billion dollars to successfully execute the 4 key project under the Integrated Aluminum Industry (IAI) and is determined to work with other stakeholders to achieve"

The CEO of VALCO, Dan Acheampong also mentioned that his outfit is the largest smelter in West Africa and the 4th in Sub Sahara Africa.

"With the right investment and the needed capital injection, the entity will take its rightful place in the Aluminum industry"

VALCO, a wholly owned Ghanaian asset remains a strategic and a major corner stone of the Integrated Aluminum Industry (IAI) in Ghana.

GIADEC and VALCO are currently working to give practical meaning to the government's transformational agenda by leveraging on Ghana's existing bauxite reserves and the smelting of Aluminum to make the Ghanaian economy an enviable one.

Below are some pictures:

Story by: Joshua Kwabena Smith



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