SMM News: state-owned Ghana Comprehensive Aluminum Development Company (GIADEC) has drawn up a five-year plan to rebuild the country's only aluminum plant, Volta Aluminum Company (VALCO).
At present, the company, which was founded in 1967, has less than 5 per cent of its installed capacity and produces no more than 10,000 tons of metal a year on two of the ten production lines.
Michel Ansakh, general manager of GIADEC, said the company is currently looking for a strategic partner to restore the plant. According to him, the agreement can be signed by the end of this year.
In the first stage of modernization, it is planned to increase the productivity of the enterprise to 180000 tons per year, while in the second stage, it should reach its full design capacity of 300000 tons per year. In addition, GIADEC is developing plans to build three bauxite mines and two alumina production lines to supply raw materials for VALCO.
In 2019, Ghana earned $6.67 billion from natural resources exports, and the government reached an agreement with the Chinese company (Sinohydro), a Chinese water conservancy and hydropower construction group, which is implementing some $2 billion worth of infrastructure projects.
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