The Minister responsible for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah has revealed that the Volta Aluminium Company (VALCO) is set to becomes Ghana’s next Economic Powerhouse.
In view of this, the Minister has charged the management of VALCO to spearhead the full modernization of the company as one of the government’s ambitious plans to build an integrated aluminium industry anchored on value addition.
During a working visit to VALCO, the Minister expressed unwavering confidence in the company’s current management, noting that it has demonstrated renewed energy and vision capable of restoring VALCO to its formerly known glory.
“VALCO holds immense potential, akin to a sleeping giant waiting to be awakened. By harnessing this potential, we can revitalize its operations and unlock new economic opportunities for the country.”
Hon. Emmanuel Armah-Kofi Buah
Ghana’s Aluminium Dream
The Volta Aluminium Company (VALCO) has long been a strategic asset in Ghana’s industrial landscape, playing a crucial role in the country’s aluminium sector.
Since the 1960s, VALCO has weathered various challenges over the years, but with renewed leadership and a clear roadmap for transformation, the company is poised to reclaim its position as the industrial backbone of Ghana’s aluminium dream, as revealed by the sector minister.
Highlighting the company’s strategic importance, the Minister emphasized the need for modernizing VALCO to enable effective local processing of Ghana’s bauxite, a vital link in completing the aluminium value chain.
“Bringing VALCO back to its feet is a central pillar of President John Dramani Mahama’s reset agenda. We must all rally behind this national vision.”
Hon. Emmanuel Armah-Kofi Buah
Supporting VALCO’s Resurgence
The Ministry of Lands and Natural Resources, under the leadership of Hon. Emmanuel Armah-Kofi Buah, has recognized the immense potential of VALCO and the critical role it can play in driving the country’s industrial growth.
The Ministry has been actively engaged in supporting VALCO’s modernization efforts, ensuring that the necessary resources and policy frameworks are in place to facilitate the company’s transformation.
VALCO and Economy
The Minister’s visit to VALCO and his charge to the management team underscores the government’s commitment to revitalizing the company and unlocking its full potential.
“The future of VALCO is bright, and its resurgence could bring significant value and economic benefits, transforming the lives of many.”
Hon. Emmanuel Armah-Kofi Buah
In the minister’s remarks, he also called on both local and international investors to partner with the government in expanding and industrializing VALCO, which he believes is poised to deliver long-term economic returns.
Transformation Strategy
The Acting Chief Executive Officer of the Volta Aluminium Company (VALCO), Mr. Robert Makila Sambian, outlined the company’s transformation strategy and promising prospects during a detailed presentation. He revealed that VALCO is on the brink of becoming a profitable enterprise once again, signaling a bright future for the company.
“Investors can be assured their confidence in VALCO will yield strong dividends.”
Mr. Robert Makila Sambian
The Minister’s visit and the call to action for VALCO’s modernization align with the government’s broader vision of building an integrated aluminium industry in Ghana.
As the Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Mr. Reindorf Twumasi Ankrah, noted, “VALCO’s forward-looking leadership and the call for a comprehensive modernization drive will position the company as a major contributor to national industrial growth.“
Ghana’s Industrial Backbone
The resurgence of VALCO holds immense promise for Ghana’s economic transformation. By harnessing the company’s untapped potential and modernizing its operations, the government aims to create a thriving aluminium industry that can drive job creation, attract investments, and contribute significantly to the country’s overall industrial and economic development.
The Minister’s charge to VALCO’s management and the call for collaborative efforts from investors and stakeholders underscore the government’s unwavering commitment to positioning VALCO as the next economic powerhouse in Ghana. With a clear roadmap for transformation and the support of the Ministry of Lands and Natural Resources, VALCO is poised to reclaim its rightful place as the industrial backbone of the nation.
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