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BRIEF ON GHANA’S INTEGRATED ALUMINIUM PROJECT 

About four decade ago, Ghana first President Osagyefo Dr. Kwame Nkrumah’s vision of an Integrated Aluminium Industry started with the establishment of VALCO. With huge deposits of bauxite at Kibi, Nyinahin and Awaso which, at conservative estimates, could last more than 200 years at the current installed capacity of VALCO, Dr Nkrumah foresaw an Integrated Aluminium Industry (IAI) taking shape in the country. Ghana, is perhaps the only country that has all the major raw materials needed for an Integrated Aluminium Industry. Ghana has bauxite in large deposits; salt and lime which are needed at for the refinery process and an Aluminium Smelter.

The primary aluminium from the Smelter would supply the local finished aluminium product industry to effectively achieve an Integrated Aluminium Industry. Although this vision has not yet been realized, earnest efforts are being made to ensure that VALCO remains viable, paving the market for the alumina from an alumina refinery.

An Integrated Aluminium Industry presents enormous benefits to the socio economic development of Ghana providing the fiscal injections which will serve as a critical stimulus for productive economic ventures in the nation as a whole. This will be a big boost for Ghana’s Poverty Alleviation Strategies through improvement in the quality of lives of thousands of Ghanaians and additionally serve as a critical stimulus for many productive economic ventures in the country. Some of the benefits of the Integrated Aluminium Project are highlighted below:

  • An estimation of more than 2.3 million jobs will be created under the Integrated Aluminium Project providing meaningful livelihoods for hundreds of thousands of dependents.
  • Fiscal injections of about $8 billion into Ghana’s economy.
  • A drastic reduction in the cost of importation of raw materials to the downstream Aluminium industry.
  • Exchange rate stability through the cushioning effect of foreign revenues from net exports by the Integrated Aluminium Industry as well as from foreign exchange conserved through curtailed imported aluminium raw materials

The Integrated Aluminium Project is said to be the linchpin in transforming Ghana’s economy thereby creating an oasis for further foreign investment into the country.

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Office Location

Volta Aluminium Company Limited (VALCO)
Heavy Industrial Area,Tema, Ghana
Phone: +233-302208787
Email: info@valcotema.com