Lands Minister lauds progress of GIADEC’s Valco modernization project
The Minister of Lands and Natural Resources, Samuel Abu Jinapor, has reiterated the government’s commitment towards the modernization of VALCO, to improve efficiency and increase its capacity and make it globally competitive.
According to him, the Ministry is finalizing a memo to Cabinet for approval to proceed with the search for a strategic investor to partner with the Ghana Integrated Aluminium Development Corporation (GIADEC) in the modernization and expansion of VALCO.
Addressing the press during a working visit to the smelter on Wednesday, February 9, 2022, Mr. Jinapor noted that a retrofitted VALCO will play a significant role in the development of Ghana’s Integrated Aluminium Industry.
He further noted that the development of Ghana’s Integrated Aluminium Industry remains a priority of the government.
We are fully committed to realizing the vision of the President. The instructions of the President could not have been clearer to us than they are now, and we are absolutely determined to work, as a Ministry, with GIADEC and VALCO to ensure that we realize President Akufo-Addo’s vision of building an integrated Aluminium Industry in Ghana so that we can ramp up our industrialization agenda. It is only through that we can create the hundreds, thousands and millions of jobs that our population needs dearly” he said.
Mr. Jinapor stressed that the development of an Integrated Aluminium Industry is a huge project and will require a collaborative effort and time to develop.
“We have to be very candid about the kind of task we have on our hands. It’s a very challenging one; it is a really big undertaking. It’s not impossible, it’s not insurmountable, but it will take a lot for us to build this Integrated Aluminium Industry.
What should be assuring to our countrymen and women is the fact that a framework has been established, extraordinary work is being done on a daily basis, day and night, and the signals are looking very good” he added.
He commended the Management and Board of the Ghana Integrated Aluminium Development Corporation (GIADEC), who holds the Government of Ghana’s 100% shares in VALCO, and the Volta Aluminium Company (VALCO) for their enormous contribution in positioning the aluminium smelter as a viable business venture which is beginning to attract new investments.