Chief Executive of VALCO Dr. Robert Makila Sambian has revealed that VALCO recorded $1.3million in profit in just 9 months adding that the Company Projects 1.5million tons per production Over a period of 10 years.
Dr. Sambian disclosed this when he took his turn at the Progress Series in Accra on Tuesday under the auspices of Ministry of Lands and Natural Resources.
Chief Executive of VALCO Dr. Robert Makila Sambian
The VALCO boss explained further that in 2024 the company recorded $91.78million in revenue adding that in 2026 the revenue shot to $103.85million.
“We want to move the business away from primary aluminum. It is his Excellency the President’s promise to the people of Ghana. He’s passionate about value addition to our natural and mineral resources and at VALCO we have taken steps and given meaning to it”, Dr. Sambian emphasized.
He also revealed that due to a strategic plan put in place as management, VALCO has been able to produce its first ever rod cast as part of adding to the value chain.
According to him, the production of the rod cast is the first in the history of the company after several years.
He said in line with President Mahama’s Vision of value addition and industrial transformation, VALCO’s business model has shifted towards an integrated aluminum industry in Ghana.
Dr. Sambian later revealed that VALCO has installed its first rod mill as part of the President’s 24 hour economy policy where the Company has instituted “ one job, 4 shifts, four workers.
He emphasized that the installation of the Rod Mill plant will help deepen local industrialization, creates sustainable jobs, and reduce reliance on imported aluminum.
He added that the plant will support downstream manufacturing, increase export earnings and strengthen global value chain competitiveness.
Some of the rod cast produced
The VALCO CEO however stressed that all these achievements have not been chalked without challenges emphasizing that they met very old equipment which breaks down frequently, outdated Technology and unstable power.
He said a lot of interventions were made in that regard which included mindset reset by declaring that “the era of waiting of deferred decisions and accepted decline had ended” and embarking on massive equipment acquisition drive aimed at consolidating the gains the company is making.
He said the company however needs about $600milliom to revamp the 3pot lines which are not in use and augment the 2 pot lines which are currently in operation.
Dr.. Sambian later Commended the President for the opportunity, Lands Minister for the support and Workers of VALCO whom he said have been phenomenal in the attainment of this feat.
Source www.senaradioonline.com
