Audio By Carbonatix
Manufacturing firms whose businesses are closely linked to Aluminium smelting firm, VALCO are excited about the resumption of operations by the firm.
VALCO shut down its operations for nearly 2 years due to what officials explained was the unprofitability of continued production since the price of the metal had dropped so low on the commodity market. It therefore made no sense to continue production.
The shut down seriously affected firms in the integrated Aluminum industry in the country, forcing some to virtually shut down.
Managing Director of ALUWORKS, Kwesi Okoh told Joy Business the resumption of operations should improve the fortunes of his business as well as other players in the industry.
“VALCO is a 200,000-tonne business and we take a maximum of 20,000 tonnes of that, the rest is exported. For us that is our whole usage so without them, we had to import raw material from outside Ghana, (raising our cost by forty per cent) so without VALCO we were really, really struggling to keep business going with the little money we had,” he said.
He adds that this should mean a lot to the economy at large.
Source: Joy Business/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Tenth woman’s body found as South Africa police probe killings
8 minutes -
Black woman found hanging from tree was dead before body was ‘staged’, police say
12 minutes -
Final day: 3rd Republic Bank-JoyNews Habitat Fair underway at Junction Mall, Nungua
14 minutes -
Nor’easter brings flooding as New York and New Jersey declare emergency
25 minutes -
Africa’s richest man helps fund $660m fuel pipeline between Ethiopia and Djibouti
58 minutes -
Security lapses at Utah campus where Charlie Kirk was killed, review says
1 hour -
White House bars CNN from travelling with Trump on Air Force One
1 hour -
Pope praises young people’s ‘energy and commitment’ at huge open-air Mass in Paris
1 hour -
Nyankamam residents benefit from free medical screening, healthcare outreach
1 hour -
Ghana, Boeing explore setting up regional aircraft maintenance hub
1 hour -
Bangkok roads submerged as flood disaster declared
1 hour -
Four killed in helicopter crash near Montreal
1 hour -
Ghana could have national airline back in skies within 18 months – Boeing to Mahama
2 hours -
NDC suspends vetting exercise in Krowor constituency, reschedules to September 29
2 hours -
Extractive firms urged to strengthen cyber defences as digital risks grow
2 hours