Ing Osafo explaining a point to members of the Council
The Volta River Authority (VRA) has started recording profits after registering a loss of over $1 billion five years ago.
This was made possible through its financial recovery programme which included cutting down of its cost and making efficient use of fuel, among others.
Deputy Chief Executive Officer of the Volta River Authority, Ing Emmanuel Danquah Osafo, who disclosed this, said this is a success story and it was through the instrumentality of local workers.
“We did not need foreigners for what we have achieved. I therefore appeal to the government to continue to support local institutions in the energy sector so that at the end of the day, the profits would remain in Ghana.”
The Deputy CEO said this when members of the Council of State visited the T3 plant of VRA at Aboadze, near Takoradi, as part of their three days tour to the Western Region.
The members had earlier visited the site where the Ghana National Petroleum Corporation (GNPC) operational headquarters is being constructed in Takoradi.
They will also visit the gas processing plant at Atuabo because of the key role the energy sector plays in Ghana’s economy.
Mr. Osafo stressed that VRA wants to sustain the successes chalked for about four years.
He explained that the Takoradi Thermal Power Station Expansion Project (T3) was formulated by the Ministry of Energy on behalf of government.
He said it was part of a national strategy for electricity supply sufficiency in the short to medium term.
He said a contract was signed in the year 2006 between the Ministry of Energy and the Canadian Commercial Corporation, the contracting agency of the Canadian government.
“The contract was signed for the development and implementation of a 132 megawatts Thermal Power Station in Takoradi on a turnkey Engineering, Procurement and Construction basis,” he added.
The Chairman of the Council of State, Nana Otuo Serebour II, on behalf of the rest of the members, commended VRA for the initiative that enabled it to stop running at a loss.
“I am an engineer myself and have worked with VRA before, but I am impressed with company’s success story,” he stated.
He promised that the Council will accordingly brief the president on the news as well as some of the challenges the company is being confronted with.
From Emmanuel Opoku, Aboadze