VALCO generates $1.4million profit in 9 months —VALCO CEO

Dr Robert Makila Sambian, Chief Executive Officer (CEO) of the Volta Aluminium Company Limited (VALCO), says the state-owned aluminium smelter recorded a profit of US$1.4 million from the production of 30,000 metric tonnes of aluminium during the first nine months of the year.

Dr Sambian made the disclosure on Tuesday during the Ministry of Lands and Natural Resources’ Government Accountability and Progress Series in Accra.

He said the company had shown signs of operational recovery despite challenges facing the global aluminium industry and was positioning itself for significant growth under Ghana’s integrated aluminium industry agenda.

According to him, VALCO would require about US$4 billion in investment over the next decade to expand its production capacity to 1.5 million metric tonnes annually.

Dr Sambian noted that achieving that target could enable the company to generate about US$3 billion in annual profit while creating more than 5,000 direct and indirect jobs across the aluminium value chain.

He explained that the proposed expansion formed part of a broader strategy to establish a fully integrated aluminium industry in Ghana, where locally mined bauxite would be refined into alumina and further processed into finished aluminium products.

The VALCO CEO said the integrated approach would enhance the company’s competitiveness, boost exports, stimulate industrialisation and contribute significantly to national economic transformation.

Dr Sambian expressed optimism about the future of the company, stressing that strategic investments in infrastructure, technology and energy would be essential to realising the vision of making VALCO one of Africa’s leading aluminium smelters.

The Government Accountability and Progress Series provides a platform for ministries, departments and agencies to highlight achievements, outline ongoing projects, and engage the public on national development priorities.

GNA