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27.02.2006 Business & Finance

VALCO targets production of 82,000 MT of aluminium


Tema, Feb. 27, GNA -- The Volta Aluminium Company (VALCO), has targeted the production of 82,000 metric tons of aluminium this year as against 13,350 metric tons it produced when it started operations in September last year.

The Managing Director of the Company Mr. Seth Adjei, who disclosed this on Monday, indicated that 1,280,000 mega Watts of power was however, expected to be used for this year as against the National projection of 9,516,000 MWH by the Volta River Authority (VRA). He was speaking at the signing of a 'Metal Sales Agreement' between VALCO and Aluworks Limited for the former to supply the latter regularly with aluminium raw materials,

According to him 4,562 metric tons representing 34 percent of its total production in 2005 was sent to Aluworks whiles 1,960 metric tons of aluminium out of the expected 30,000 metric tons has so far been sent to Aluworks.

Mr William Inkumsah, Board Chairman of Aluworks Limited indicated that, the reopening of VALCO solved the difficulty Aluworks went through procuring aluminium ingots.

He further said from September 2005 to date, Aluworks has received 5,512 metric tons of molten metal and 1,019 metric tons of sows from VALCO adding that, the regular supply would ensure the smooth operations of Aluworks as well as about 150 tertiary industries depending on it for flat products for conversion.

According to Mr Kondagunta Venkataramana, Aluworks Managing Director, the restart of VALCO last year has provided a catalyst that would propel all the aluminium companies in the country into action. He said the industry has to add value to the existing product mix and develop products that would actualise the vision of the aluminium segment of the golden age of business in Ghana to create wealth and employment in the country.

Dr. Charles Mensa, Executive Chairman of VALCO stated that the signing of the agreement was the beginning of the full integrated aluminium industry.

Dr Mensa observed that the agreement would also signal to Ghanaians the realization of some of Dr Kwame Nkrumah's dream and the building of a stronger relationship between the two companies.