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| Alscon |
Nigeria has launched a "significant initiative" to revive the Aluminium Smelting Company of Nigeria (Alscon). This move aims to boost the nation's industrial base and attract foreign investment.
Government Steps Up Revival Efforts
Steel development minister Prince Shuaibu Abubakar Audu visited Alscon to assess its operational readiness. He will submit a report to President Bola Tinubu on restarting the plant. Alscon's revival is seen as crucial for creating a robust industrial base. Alscon is 85pc owned by Rusal, with the remainder held by the state. The smelter halted operations in 2013 due to unreliable gas supply. Rusal plans to invest $500mn in the revival.
Key Agreements and Economic Goals
Furthermore, the government facilitated an agreement between Alscon investor BFI and China National Chemical Engineering International to restart a crucial gas processing plant. Vice-president Kashim Shettima hinted at Alscon's restart in July 2023. "For the president to achieve the $1 trillion economy for the country by 2030, all critical assets have to come back on line," said Shuaibu Audu. Alscon has a nameplate capacity of 193,000 t/yr.
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