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Business News of Monday, 12 August 2013


VALCO to get power plant

The Volta Aluminum Company has acquired a parcel of land near Atuabo in the Western region for the development of a power plant.

VALCO has also signed an MOU with the Ghana Gas Company for the supply of gas to run the plant.

The aluminum smelter is operating only one out of five production lines due to inadequate power supply.

It is currently receiving about 80 megawatts of power from the VRA out of a total demand of 350 megawatts to run all the five plants.

Communication Specialist at the Energy Ministry Edward Bawa tells XYZ Business the project will reduce VALCO’s dependence on VRA for its power supply.

Mr. Bawa said the power plant will boost government’s efforts to revamp

Meanwhile, the Sale and Purchase agreement covering the Volta Aluminum Company can still not be traced.

This covers the 20 million dollar sale of 90 percent of shares of Kaizer Aluminum to the government of Ghana.

The Kufour administration acquired Kaizer’s shares following the American company’s financial crisis in 2003.

Chief Executive of VALCO, Dr Charles Mensah tells XYZ Business the document must be with the Attorney General’s Department and the Finance Ministry

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