18
Jul
The Volta Aluminium Company Limited (VALCO) has said it needs some US$600million capital to revamp its operations. The struggling state-owned firm is in desperate need of a fresh capital injection to retrofit its ageing machinery and move the smelter to more than 7.5 times its current installed production capacity. VALCO, the country’s only smelter, believes that with the right partner, it will be able to expand its production from the current 40,000 tonnes per annum (tpa) to 300,000tpa of aluminium; a 650 percent increase. The modernisation and expansion will improve its efficiency and ensure VALCO is positioned to sustainably grow…