Business News of 2014-07-04

New boards for TOR,VALCO inaugurated

The Minister of Energy and Petroleum, Mr Emmanuel Armah-Kofi Buah, has tasked the board of directors of the Tema Oil Refinery (TOR) and the Volta Aluminum Company (VALCO), to work hard to address the challenges confronting their respective organisations and the sector as a whole.

He said although the government was putting in place measures to enhance the operations of the two institutions, there was the need for the organisations to also work out modalities to boost their operations.

Mr Buah was addressing the members of the two boards after he had sworn them into office in Accra, yesterday.

TOR board

The nine-member TOR board is chaired by a former Minister of Energy, Dr John Frank Abu. Members include Mr Bona Siriboe, Mr Arnold Seshie and Mr Joseph Anyimah.

Others are Ms Jessie Jacinto, Mr Kweku T. Kessie and Ms Gloria Edem Ofori. The rest are Mr Vincent Nartey and Dr Alphonse Kwao Dorcoo, the acting Managing Director.

Mr Buah asked members of the board to ensure that the management engaged workers and the unions consistently, for transparency, sanity and harmony, at the workplace to avert unnecessary agitations.

He reminded the members that TOR’s objective was to refine crude oil, instead of operating a crude procurement facility, stressing that the objective must not be clouded by other activities.

Mr Buah also emphasised the need for the refinery to be seen as a strategic asset that could be deployed by the state in times of emergency.

VALCO board

The six-member VALCO Board is chaired by Professor George Armah, the current Master of Commonwealth Hall of the University of Ghana, The other members are Prof. Seth Aryettey, Mr Danny Annan, Ms Brenda Semevor, Dr Francis Bawaana and Mr Daniel Acheampong, the Chief Executive of VALCO.

On the operations of VALCO, Mr Buah said the government was working to ensure that the company got enough power supply to implement the Integrated Aluminum Project, to create jobs and accelerate the country’s industrialisation effort.

Source: graphic.com
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