Volta Aluminium Company Limited

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…

The Volta Aluminium Company Limited (VALCO) has said it is hopeful of concluding discussions with a strategic investor before the end of 2023. The state-owned company is seeking a private capital injection to revamp its operations, having been granted the green light to do so by Cabinet and the Ghana Integrated Aluminium Development Corporation (GIADEC), its parent company. VALCO’s Board Chairman, Dr. Henry Benyah, has disclosed that a transaction advisor has so far been engaged and he is hopeful an agreement will be reached with an investor in the last quarter of 2023. He said the firm is looking at…