Government is actively pursuing serious investors to support a major modernisation programme for the Volta Aluminium Company (VALCO), estimated at US$2.3 billion in the short term, Lands and Natural Resources Minister Emmanuel Armah Kofi Buah has said.
During his recent visit to the smelter in Tema, the Minister stressed that Ghana is done “talking” about VALCO’s potential and is now focused on concrete action to revitalise the industry and create thousands of jobs.
“We don’t want to do the talk shop anymore. We really want to get to the chase and see the things we can practically start,” he said.
Mr. Buah explained that several proposals are currently being reviewed, with government determined to select partners who are fully committed to Ghana’s aluminium industrialisation agenda. He added that the ministry and technical teams at VALCO are working “day and night” to break the cycle of stalled progress.
According to him, modernising VALCO is essential to fulfilling Ghana’s long-standing ambition of building an integrated aluminium industry — one that processes local bauxite and expands downstream manufacturing.
“Some of the new modernisation projects will require about $2.3 billion in the short term,” he noted, expressing optimism that the right partnerships will unlock the long-delayed transformation.
The Minister maintained that the current momentum around VALCO must be sustained, insisting the initiative will boost industrial development and provide significant employment opportunities for Ghanaians.
Government’s renewed focus on VALCO comes as part of broader economic plans to expand local production, reduce raw mineral exports, and strengthen Tema’s role as a key industrial hub.