The government is actively engaging serious investors to support a major US$2.3 billion modernisation programme for the Volta Aluminium Company (VALCO), according to the Minister of Lands and Natural Resources, Emmanuel Armah Kofi Buah.
During a visit to the smelter in Tema, Mr. Buah emphasised that Ghana has moved beyond discussions and is now focused on practical steps to revitalise VALCO 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 stated.
He revealed that several investment proposals are under review, and the government is determined to partner with entities fully aligned with Ghana’s aluminium industrialisation vision. Both the ministry and VALCO’s technical teams, he said, are working tirelessly to end years of stalled progress.
The Minister underscored that modernising VALCO is key to achieving Ghana’s goal of building an integrated aluminium industry—one that utilises local bauxite and drives downstream manufacturing.
“Some of the new modernisation projects will require about $2.3 billion in the short term,” he noted, expressing confidence that the right partnerships will unlock VALCO’s long-awaited transformation.
Mr. Buah stressed the need to sustain the current momentum, describing the initiative as vital for industrial growth and job creation.
The renewed focus on VALCO forms part of the government’s broader economic agenda to boost local production, reduce raw mineral exports, and strengthen Tema’s role as a major industrial hub.
