The Professional and Management Staff Union (PMSU) of the Volta Aluminium Company (VALCO) has publicly disassociated itself from an ongoing demonstration against government’s search for a strategic investor for the state-owned aluminium smelter, insisting that the protest does not reflect the views of the company’s professional and management staff.
In a press statement issued in Tema on July 27, the union, which represents Assistant Managers, Managers and Area Managers at VALCO, said it had neither been consulted nor informed about the planned demonstration and had no involvement in its organisation.
“We have no knowledge of, involvement in, or association with the demonstration currently being organised against the ongoing search for a strategic investor for the Company,” the statement said, adding that no management meeting or official communication preceded the action.
The union cautioned the public, government and prospective investors against interpreting the protest as representing the position of VALCO’s professional and management workforce.
Strategic investor essential
PMSU argued that bringing in a strategic investor remains the most viable solution to reviving VALCO, noting that efforts to secure such an investor have been ongoing for more than five years while the condition of the plant has continued to deteriorate.
According to the union, the company requires substantial capital investment to rehabilitate ageing facilities, restore competitive production, and secure reliable power and raw material supplies—resources it says cannot be generated internally.
The union therefore endorsed government’s position, as communicated by the Minister for Lands and Natural Resources, that attracting a credible strategic investor is the best path to restoring the fortunes of the company.
Union rejects $60 million rehabilitation claim
A major point of disagreement raised by the union concerns claims that approximately US$60 million would be enough to restore VALCO to efficient operations.
PMSU dismissed the figure as unrealistic, arguing that engineers and technical personnel working daily at the plant have first-hand knowledge of the deteriorated state of the company’s infrastructure.
The union maintained that much of the equipment is obsolete rather than merely worn out, with many components beyond refurbishment and lacking commercially available spare parts or technical support.
It estimated that at least US$700 million would be required to rebuild the plant and return it to efficient and competitive operations.
According to the union, spending only US$60 million would merely provide temporary relief while leaving the company in a weakened position in the long term.
Calls for transparency
PMSU has called on government to publish the technical and financial assessments underpinning the proposed US$60 million rehabilitation estimate, including equipment-by-equipment condition reports, scopes of work and cost estimates for independent evaluation.
It further urged government to continue with the strategic investor process without delay and ensure that all competing proposals are subjected to transparent financial and engineering assessments rather than public demonstrations.
The union also warned that protests organised without the involvement of management could project an image of instability to potential investors, thereby undermining efforts to attract the capital needed to revive the company.
Commitment to VALCO’s revival
Reaffirming its commitment to the future of the company and Ghana’s aluminium industry, PMSU said it remains convinced that VALCO’s revival requires “serious capital and a serious partner.”
The union stressed that it would continue to publicly support efforts aimed at attracting a credible strategic investor capable of restoring the company to sustainable operations while safeguarding jobs and contributing to the national economy.
Story By: Eric Boateng
