Tag: VALCO
-
Government seeks strategic investor to galvanize Integrated Aluminium Industry
The Volta Aluminum Company (VALCO) was established as a collaborative venture between the Government of Ghana and Kaiser and Reynolds of the United States of America. VALCO started operations in 1967, with ownership then vested in Kaiser Aluminum and Chemical Corporation (Kaiser) and Reynolds Metals Corporation (Reynolds). Kaiser owned 90% of the shareholdings and the…
-
VALCO shuts down operations over salary concerns of staff
The Volta Aluminium Company (VALCO) has shut down its operations following agitations by its workers over their demands for a salary restoration equivalent to the dollar rate. Workers at VALCO currently have their salaries pegged in dollars, but are paid a cedi equivalent. However, because the cedi has depreciated drastically to the dollar, they want…
-
GRIDCo restores power to VALCO as Energy Ministry works to resolve impasse
The Ministry of Energy says power supply to the Volta Aluminum Company Limited (VALCO) has been restored after some negotiations. The Ghana Grid Company Limited (GRIDCo) disconnected power supply to VALCO earlier on Monday due to a US$30 million outstanding debt to the power transmitter. But a few hours after GRIDCo announced the disconnection, the Communications…
-
GridCo cuts off power to VALCO over US$30 million debt
The Ghana Grid Company Limited (GRIDCo) has disconnected power supply to the Volta Aluminum Company Limited (VALCO), following failure of the company to settle over US$30million outstanding debt to the power transmitter. A statement issued by GRIDCo said the decision was made by the management after several attempts to get VALCO to honour its payment…