GIADEC Seeks Global Partnerships to Boost Ghana’s Integrated Aluminium Industry
The Ghana Integrated Aluminium Development Corporation (GIADEC) is actively seeking partnerships with global investors to support its vision of developing an Integrated Aluminium Industry (IAI) in the country. CEO Reindorf Twumasi Ankrah highlighted the need for over $6 billion to fully develop the aluminium value chain, emphasizing that due to Ghana’s current economic challenges, GIADEC cannot solely rely on government funding. The corporation is looking for financially capable investors with expertise in the industry to help drive the project forward.
At an investor engagement session with the African Selection Group (ASG), Ankrah reiterated GIADEC’s commitment to forming strategic partnerships to enhance the aluminium sector. ASG, a company with a vertically integrated business model, expressed strong interest in Ghana’s aluminium value chain, particularly in the modernization of the VALCO smelter. ASG’s Managing Director, John Kamara, outlined a two-phase strategic plan aimed at boosting VALCO’s production capacity significantly.
The first phase of ASG’s plan includes upgrading production facilities, expanding capacity, and implementing energy efficiency measures at VALCO. Modernizing potlines and supporting infrastructure will enhance operational stability. Phase 2 will involve the construction of an alumina refinery in Ghana, reducing reliance on imported alumina and ensuring a stable, cost-effective supply for the smelter. This strategic move is expected to boost efficiency and sustainability within the sector.
ASG also plans to introduce advanced, sustainable refining processes that are more environmentally friendly compared to traditional methods. Kamara emphasized the need for innovative energy solutions to ensure a reliable power supply, including exploring alternative energy sources within Ghana’s energy mix. This forward-thinking approach aims to support long-term growth and sustainability in Ghana’s aluminium industry.
source: citi newsroom