AFRICANGLOBE – Ghana’s Integrated Aluminium Project, which has been described as the key to growing the economy with a capital injection of an estimated $8 billion, will reportedly create about 2.3 million jobs.
The integrated project also involves the construction of an aluminium refinery to refine the rich bauxite deposit into alumina at Nyinahin, a town in Ghana’s Ashanti region.
The alumina would then be processed into aluminium by the Volta Aluminium Company (VALCO), and sold to the several downstream industries as aluminium ingot and billet, with consultations already taking place to identify suitable investors to lead the project, sources close to government reveal.
The Nyinahin mine with bauxite deposits of 700metric tonnes, valued at $17.5 billion, is estimated to create about 98,000 jobs, while the aluminium refinery – expected to produce about 350metric tons of alumina – will generate about 19,000 jobs.
However, this can only be achieved if sustainable power supply is dedicated to the Integrated Aluminium project via VALCO.
Indications from some aluminium and steel companies like Aluworks, Western Rod, Tema Steel, packaging companies and the numerous aluminium accessories manufacturing industries show a high eagerness for the sector to take off to reduce the cost of importation of raw materials and offer the convenience.
The decision to dedicate hydro power to aluminium smelting is not only crucial to reduce the cost of generation but also important if Ghana is committed to creating more jobs and reducing the level of youth unemployment.
Dr. Kwabena Donkor, a former Minister of Energy expressed his excitement, especially the use of Ghana’s salt and limestone resources in the Northern and Western region in the manufacturing of aluminium.
He also revealed that benefits accrued from the project will be utilized in developing the country’s railway infrastructure.
By: Anthony Sedzro