Volta Aluminum Company, known as VALCO, is an aluminium company based in Tema, Greater Accra Region founded by Kaiser Aluminum and now wholly owned by the government of Ghana.
History
VALCO was a joint venture with Kaiser Aluminum and ALCOA, major aluminum conglomerates both based in the United States, in the British Gold Coast colony in 1948.
In 1961, Kaiser Aluminum & the Ghana Government invested in the Akosombo Hydroelectric Project to provide energy for its aluminum smelters. The company had negotiated favorable terms for power purchase with the government. The agreement was re-negotiated in 1985, by the Rawlings government, to reflect the increased value of electrical energy.[1] Documentaries reported favourable conditions for employees, with a hospital on site, maternity leave, long service rewarded by imported white goods (fridges, washing machines, etc.), and housing. Industrial relations had cooled by 1993, when the first union backed strike took place. This resulted in a 60% pay increase. [2]