The Volta Aluminium Company (VALCO) is poised for a major revival under a government-backed co-ownership and capital injection plan, which will see the smelter return to full operations and construct a new production line capable of producing an additional 100,000 metric tonnes of aluminium per year, the Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah, has confirmed.
The CEO explained that this intervention is designed to not only restore VALCO’s operational capacity but also increase revenue, improve profitability, and create approximately 2,000 direct jobs.
“When the intervention happens, VALCO will not only be operating at full capacity. The plan is also to create a new line, which will have the capacity to create an additional 100,000 metric tonnes of aluminium per year… which will set VALCO on the path to clear its debt, make profits and create 2,000 direct jobs,” Mr. Twumasi Ankrah said.
This co-ownership and capital injection initiative is part of a broader effort to revive VALCO’s operations, enhance profitability, and secure the smelter’s long-term sustainability. GIADEC is awaiting final approvals before revealing the private sector partner that will support the initiative.
Amid rumors that VALCO might be sold, Mr. Twumasi Ankrah clarified that the government is not selling the company, but instead partnering with the private sector to ensure it remains operational and competitive.
“We’re not selling VALCO. What I can say authoritatively is that the government is embarking on a co-ownership arrangement… bringing on the private sector to help with the management and share ownership, inject capital, revive the place, and keep it running,” he said.
With the planned new production line, VALCO’s revival signals a potential turnaround for one of Ghana’s oldest industrial giants, aiming to strengthen the aluminium sector, secure jobs, and put the smelter back on a path to profitability.
