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20 January 2017

Energy: VALCO will be resurrected – Osafo Marfo assures

Senior Minister-designate Yaw Osafo Marfo has said that the government will put in place measures to revive the Volta Aluminium Company (VALCO) to enable it operate at an ideal capacity.

Appearing before the Appointments Committee of parliament on Friday, Mr Osafo Marfo said “VALCO’s problem is availability of power”, adding that Ghana has “a lot of bauxite and we must go back to integrate it by converting bauxite to alumina to enable VALCO use it.

 

“It is an integration the government has mentioned in the manifesto and, therefore, VALCO will be encouraged to operate. We have to find ourselves the power and I think we will do it.”

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He said the country needs VALCO because “we need to push the aluminium integrated project concept.”

VALCO has gone through several challenges, especially with its huge debts and energy supply in recent years.

Energy think-tank, African Centre for Energy Policy (ACEP) had earlier indicated that the issue of finances of the VRA could be addressed when a proper financial model is put in place to enable the VRA to claim all outstanding debts and improve its liquidity.

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Source: pulse.com.gh/business/rss

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