This article comes from the Ghana Gazette. According to our database, the smelter is about 200,000t capacity.
The Volta Aluminium Company (VALCO), an aluminium smelting plant which was shut down two years ago due to power supply constraints, is to be reactivated.
Consequently, stakeholders in the company have met to consider critical issues and plot the technical details to bring the company back on stream.
Key among the issues are whether or not the current level of electricity supply in the country can support VALCO, as well as the tariff regime to ensure that the company can make profit should it start operations.
A Deputy Minister of Energy, Alhaji Inusah Fuseini, disclosed this to the Daily Graphic in Accra after a business delegation from Turkey had called on him.
The delegation was in the country as a follow-up visit to that of the Parliamentary Select Committee on Trade and Industry and some members of the Ghana Chamber of Commerce to that country.
The Turkish delegation was in the country to explore investment opportunities in downstream businesses, particularly in the oil and gas sector.
The VALCO, one of the largest smelters in Africa with a workforce of over 500, was established by KAISER Aluminium of the United States of America and the Ghana Government in the early 1960s to produce aluminium products for further processing.
The government acquired 90 per cent shares under a joint venture arrangement with the Russian giant, RUSAL, making Ghana a majority shareholder.
However, it was temporarily shut down due to inadequate power supply.
Briefing the delegation on the country’s emerging oil and gas industry and prospects, Alhaji Fuseini said with the discovery of gas and crude oil in commercial quantities, it should be possible for VALCO to resume operations and make profit.
He said with the discovery of crude oil, tariffs on utilities would be reduced to enable businesses such as VALCO to thrive.
He also hinted that the government was committed to developing renewable energy for the country’s use.
Alhaji Fuseini said as part of the plan, the country would generate electricity from soil and wind, adding that the government’s target was to achieve 10 per cent of renewable energy in the country by 2020.