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Tag: ALSCON

  • Fed Govt inaugurates ALSCON committee

    Fed Govt inaugurates ALSCON committee

    In a bid to bring the Aluminium Smelter Company of Nigeria (ALSCON) into full operation, the Federal Government has inaugurated an 11- member project delivery committee.

    The committee comprises three members from ALCON, two from the Niger Delta Power Holding Company (NDPHC), two members from the Transmission Company of Nigeria (TCN),  two members each from the Nigeria Electricity Regulatory Commission (NERC) and the Federal Ministry of Power. In its terms of reference, the committee is expected to fast-track  the connection of 132 kV transmission lines, ensure the completion of  the Itu-Aba 132kV line, Itu-Calabar 132kV line, produce a status report and Single Line Diagram (SLD) of the 132k V Line, conduct joint commissioning of 132kV line, including funding requirements.

    In addition to the 132kV project, the committee is also saddled with the connection of 330kV transmission lines to ALSCON by coming up with the funding requirements to complete the project, produce status project report and SLD of the 330k V Line, and conduct a joint commissioning of the project.

    Inaugurating the committee in his office, Minister of Power, Chief Adebayo Adelabu  emphasised the importance of the project, which he said would contribute to the economic growth and development of the country. He said it was the desire of the Federal Government to see that ALSCON begins operation.

    He charged all the agencies that are involved in revamping the company to work as a team “to ensure that it comes alive within a very short time”, while urging them to set up a practical working solution.

    Adelabu said if ALSCON comes back, it would impact the economy of the country very positively,“ power is a critical enabler for continuous operation in the plant and could lead to economic growth. It will increase local capacity and create jobs for our people. So, we need to accelerate its activities and avoid delays. We need a lot of collaboration and cooperation to achieve this desired result”.

    Read Also: ALSCON boosts lab services at General Hospital with 5KVA solar equipment

    He recalled  visiting the company in October last year adding that ALSCON had reached out to the ministry on several occasions regarding the importance of reliable, stable, and uninterrupted power at the plant and the need for the plant to be connected to the national grid.

    The representative of UC Rusal, the majority shareholder of  ALSCON,  Viacheslav Krylov,  said the company was ready to work and collaborate with the Federal Government in addressing the challenges facing the power sector especially in the provision of electricity.

    He revealed that ALSCON has an in built 540MW installed, gas-fired turbines for power generation, primarily for operations, he however added  that the excesses would be transferred to the grid. Krylov emphasized the importance of an alternative power supply for emergency basis in order to guarantee continuous operation in the plant when gas supply line is disrupted.

  • Hope rekindles for ALSCON as FG moves to link company to national grid

    Hope rekindles for ALSCON as FG moves to link company to national grid

    The Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State may soon restart operations following the Federal Government’s moves to link the company to the national grid.

    The decision to resolve the challenge of uninterrupted power supply to the company, among other issues, were taken yesterday at meeting between the Minister of Power, Adebayo Adelabu and the management of ALSCON.

    The meeting, which at conference hall of ALSCON, also had representatives of the Transmission Company of Nigeria (TCN), the Niger Delta Power Holding Company in attendance.

    ALSCON management led by the Project manager Ruslan Matrenin and the Acting Managing Director, Engr. Ime Inyang had earlier in their presentations listed lack of gas and power, security and legal issues as some of the company ‘s challenges.

    Speaking with our correspondent after the meeting, Adelabu said that President Bola Tinubu was committed to the resuscitation of ALSCON which was established 27 years ago but shut down over a decade ago due to lack of power and gas supplies.

    The Minister said the FG would not allow the company to rot away because of its enormous economic potentials in the upstream, midstream and downstream sectors of Nigeria.

    He said: ” This investment like many others in the country has suffered from power problem in the past 27 years. It has not been connected to the national grid. And we are very much aware of the enormous potential of this company in the downstream, midstream and upstream conversion of aluminum.

    “It can create lots of employment for our teeming youths. It can also serve as supplier of raw materials for many downstream aluminum companies that can save us huge foreign exchange from import of these raw materials. 

    “Having appreciated this I have come to visit the company to to discuss with the managers and owners of the company and all the other stakeholders, the Transmission Company of Nigeria (TCN), Niger Delta Power Holding Company, and all the contractors involved to devise an immediate solution to the power problem this company has been facing.

    “And I am happy we have made very good progress with the meeting of today as we have determined a short time solution to the problem of power to solution to connect this company to the national grid and what the medium term solution is and we have made good progress”.

    He said that the company has the capacity of supply 540 megawatts of power to the national grid when linked to the 330kva substation which is being constructed by the Niger Delta Power Holding company.

    “But the most interesting part of this meeting is the fact  that the company also has the potential of supplying 540 megawatts of power to the national grid when fully activated. 

    “They have an installed capacity of 540 megawatts comprising of 6 turbines with 90 megawatts each and they all in very good condition. Once all the infrastructures are put in place and with the 330kva substation which is being constructed by the Niger Delta Power Holding Company together with the lines from Ikot Ekpene to Ikot Abasi they will be able to evacuate the entire of this 540 megawatts to the national grid. 

    “There is even the possibility of expanding this by 120 megawatts because this is an open circle. It can be made a combined mega circle by which the 120 megawatts transferred from the 120 powered turbines can be made to be 660 megawatts. 

    “You can imagine what this will add to the national grid. I have come today to listen to the company and other stakeholders and we have a solution in sight. All we need to do now is to go back and work on all the agreed action lines which I will personally supervise.

    “I believe that within the next ninety days we will be able to achieve the short term solution and the country will begin to feel the impact of this company beginning operations from the number of employment the company will generate in the country. 

    “They have the capacity to generate up to 3,000 employment and also supply of raw materials to downstream aluminum companies. This will save us millions of dollars and foreign exchange it will impact on our federal reserve and our gross domestic product, GDP. So it is a company that will add a lot to the economic prosperity of the country and the people of Nigeria.”.

    On gas supply , Alelabu said: “The company has a gas pipeline that has extended to the backyard which they have used in the past. But in the last 11 years they have not gotten gas supply even though they have a gas supply agreement.

     “This is all about commercials in gas supply. If the price is right the gas company will supply. It is a highly competitive market, preference will be given to those who pay higher. We believe they can sit down with the gas company and agree on a commercially viable price that will ensure that gas is supplied to the company.

    “I think that gas is the least of the problems here. The gas problem can be resolved with appropriate pricing. There is Ibom Power Company here that is getting gas which is less than 500 metres from here and the gas pipelines are working. It is a matter of agreeing on the right price with the gas company for the turbines to be powered immediately”.

  • ALSCON boosts lab services at General Hospital with 5KVA solar equipment

    ALSCON boosts lab services at General Hospital with 5KVA solar equipment

    The Aluminum Smelter Company of Nigeria (ALSCON) has installed a 5KVA solar power equipment at the laboratory unit of the General Hospital, Ikot Abasi local government area of Akwa Ibom state.

    The Director of Government and Public Relations Directorate, Mr. Aleksandr Ashkinazi, presented the solar equipment to the hospital on Friday on behalf of the Managing Director of ALSCON, Mr Dmitriy Zaviyalov.

    He was accompanied by top management staff of the company.

    The donation of the solar system is among series of life-touching interventions undertaken by the company as part of the company’s community social responsibility (CSR) to it’s host communities of Ikot Abasi and it’s environs.

    Ashkinazi explained that the gesture was to enable the hospital laboratory have 24 hours power supply to enable it provide critical services to patients.

    The Superintendent of the hospital,  Dr. King Udoh, said that the intervention has to a great extent solved the epileptic power situation which drastically stalled laboratory operations.

    Udoh said that before the company’s  gesture, the hospital laboratory couldn’t carry out important analysis and investigations as many of it’s machines could not be powered.

    According to him: “The hospital laboratory has really heaved a big sigh of relief with the installation of the 5KVA solar power  equipment. Without light, we couldn’t carry out some investigations. 

    “With the donation of this 5kva solar power by ALSCON the laboratory now has light to operate 24 hours a day without fear of power outage. We can now power our machines for optimal performance.

    Read Also: How Nigeria can be African leader in hospitality, tourism

    “I have always known ALSCON when it comes to providing power to it’s host communities even before I was posted here. With this intervention I am sure that if they fully resume operations the host communities, Akwa Ibom state and the entire country will stand to gain.

    “If ALSCON can do this now that it is not operational it means they will do more when they commence operations.

    ‘I want to use this opportunity to urge the federal government to accelerate the process and remove all impediments hindering the restart of ALSCON”.

    Senator Ekong Sampson (Akwa South Eket) hailed the CSR interventions of ALSCON.

    Sampson made the remark when the management of the company led by its Managing Director, Mr. Zaviyalov, felicitated with him on his 2025 birthday at his residence in Uyo.

    Zaviyalov who was represented by the Director of Government and Public Relations Directorate, Mr. Aleksandr Ashkinazi informed the Senator of several CSR interventions in communities by ALSCON including the recently 5KVA solar system donated to ease operations in Ikot Abasi General Hospital Laboratory with 24 hours power supply.

    The delighted Senator Ekong Sampson commended ALSCON for all the people centered CRS to our people. The Senator stated further that ALSCON is his project. 

    He said “ALSCON is my project and it is the Federal Government policy and resolve to commence operation as soon as possible.

    Sampson said he has presented the issue of the revamping of ALSCON in many legislative platforms including meeting several stakeholders such as the Attorney General of the Federation.

  • ALSCON donates solar energy, playground to AL-RUSAL Cares Centre during pioneer graduation ceremony

    ALSCON donates solar energy, playground to AL-RUSAL Cares Centre during pioneer graduation ceremony

    The Aluminium Smelter Company Of Nigeria (ALSCON) in Ikot Abasi has donated a 3.5KVA solar panel for 24/7 independent power supply and modern standard play-ground for the kids at entrepreneurial development center known as AL-RUSAL CARES CENTER situated at Ferrostaal camp.

    The Managing Director, Mr. Dmitriy Zaviyalov made the donation on behalf of the Company during a graduation ceremony of the trainees’ pioneer batch which held on 1st August, 2025. 

    He urged the trainees to be committed to learning as ALSCON is providing requisite facilities that will make entrepreneurial development efforts easy for all.

    The Managing Director who was represented by the Director of Govt./Public Relations Directorate, Mr. Aleksandr Ashkinazi assured the people of ALSCON readiness to support initiatives that will position the Youths to be self-reliance in the nearest future.

    Speaking during the ceremony, the Clan Head of Ikpa Ibekwe, HRH. Etebom Akpan Nelson Inyang who was the Royal Father of the day applauded ALSCON for meaningfully empowering the youths with entrepreneurial skills needed for self-development.

    He commended ALSCON for donating solar and playground that will make the learning processes worthwhile. 

    Bunches of goodwill messages were delivered by noble leaders of Ikot Abasi  L.G.A including Hon. Ufok Frank, President, Mboho Ikpa Ibekwe and many others.

    Responding on behalf of the trainees, the Youth President of Ikpa Ibekwe Clan who is the Coordinator of programmes at the center, Comrade Sunday Etop thanked the Company for having the development of the Youths at heart.

    The event witnessed presentation of certificates, starter packets to graduates and practical demonstration of the various training programmes by the trainees.

    The ceremony was well attended by dignitaries among whom were Royal Fathers, Government officials, Community Leaders and host of others.

    In another development, the company also initiated industrial attachment training for youths of Ikot Abasi and it’s environs for them  to acquire self-reliance skills.

    During a brief safety and induction ceremony organized by HQSE Directorate, the Director, Mr. Uduak Obot urged the trainees to be conscious of safety as it is key to success in industrial environment.

    In his brief speech, the Managing Director, Mr. Dmitriy Zaviyalov stated that manpower development which is key to industrial growth and stability will assist the youths to be acquainted with industrial ethics and conducts. He commended the trainees for being steadfast and dedicated to the training programmes.

    Mr. Zaviyalov also opined that ALSON will not hesitate in contributing to human capacity development to improve cross-cultural communication skills of Ikot Abasi youths. 

    He assured Ikot Abasi people of RUSAL commitments to expose the youths to demand and challenges of work place. Mr. Zaviyalov who was represented by the Director, Govt./Public Relations, Mr. Alexander Ashkinazi noted  that the industrial attachment will help the youths gain practical experience, working ethics and develop work-based skills. 

    The various training programmes initiated by ALSCON such as Forklift, Welding, Mechanic and ICT will help in harnessing the potentials of the youths. 

    On behalf of the beneficiaries, Mr. Ubokudom Paulinus thanked ALSCON Management for impacting the youths through various human development programmes. He assured of the beneficiaries commitment to utilize the golden opportunity accorded them by RUSAL ALSCON.

    ALSCON also had earlier boosted the ICT capacity of it’s staff school with 25 computer set and 5 printers to The Managing Director, Mr. Dmitriy Zaviyalov stated that the donation is part of the company’s CSR aimed at elevating the status of the school. He extolled the school management, board and all the staff for unwavering commitments to delivering quality education to the students. 

    Read Also: RUSAL ALSCON Preserves a Team with Valuable Competencies

    The Director of Government and Public Relations Directorate of the Company, Mr. Aleksandr Ashkinazi who represented the Managing Director asserted that ALSCON prioritizes education and will continue to support meaningful initiative that contribute to manpower development of our youths.

    Responding on behalf of the school, the Board Chairman, Engr. Samuel Otu commended ALSCON Management for such huge intervention that has changed the narrative of the school already as NECO has approved the school as a Computer-Based Test Examination centre and the only one in Ikot Abasi L.G.A.

     He also thanked ALSCON Management for the renovation of the school and expressed optimism that the provision will enable ALSCON School students stand tall among their equals anyway in the world.

  • Nigeria loses over N13.67tr to ALSCON’s closure

    Nigeria loses over N13.67tr to ALSCON’s closure

    • Rosemary Chigemezu

    Economists and policy analysts at a one-day Expert Council for Regional Economic Development in Uyo, Akwa-Ibom State have tasked President Bola Tinubu to facilitate the enforcement of a long-standing court rulings on the Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi. They claimed that huge resources have been lost to the facility’s closure.

    The experts who put the estimated economic value of the loss to the Federal Government at over N13.67 trillion ($8.542 billion), described the continued closure of ALSCON as “an absolutely unbelievable assault on Nigeria’s economy and sovereignty.”

    They described the situation as a staggering economic failure and urged the government to act decisively against Russian firm, UC Rusal’s, continued occupation of the plant despite a Supreme Court ruling stripping it of ownership rights.

    Speaking at the brainstorming session of the summit, the Director of Emerging Knowledge, Policy and Partnership at the Institute of Professional Economists and Policy Management, Friday Udoh, said the plant’s inactivity, factoring in direct losses and lost value-added activities, has dealt a severe blow to the manufacturing sector, downstream industries, and the national economy. “UC Rusal’s continued access to ALSCON is illegal,” he declared, citing three Supreme Court ruling that voided the company’s ownership.

    Udo stressed that the situation has placed over 11,000 jobs at risk and questioned why the Tinubu administration continues to negotiate with a firm that ruined the economy.

    He said: “The political will of Mr. President is what is needed to act and implement the Supreme Court judgment to the letter.

    Read Also: ALSCON sponsors quiz competition for host communities

    “Why should the Federal Government negotiate with a company that destroyed economic value? The closure of ALSCON has already crippled the country’s capacity to add value to our abundant natural gas reserves.”

    Furthermore the Director recalled,  “ALSCON, valued at $3.2 billion, was awarded in 2004 to Nigerian-American firm BFI Group as the preferred bidder by the National Council on Privatisation (NCP). However, the Obasanjo-led administration reversed the decision in favor of UC Rusal, acting through a Special Purpose Vehicle (SPV), Dayson Holding Limited—a newly incorporated firm registered in the Virgin Islands.

    “Although the Supreme Court in 2012 ruled in favor of BFI Group, affirming it as the rightful owner, the government has yet to enforce the ruling.

    “The same forces that undermined BFI Group’s bid are still very active within successive governments, including the present one.” Udoh warned.

    The Minister of Steel Development, Shuaibu Abubakar Audu, during an inspection tour of ALSCON early this year, pledged to resolve ownership issues, gas supply challenges, and the dredging of the Imo River. But Udoh dismissed these as distractions.

    “These are not the real issues. The real issue is that UC Rusal or its agents have no legal stake in ALSCON.” he said.

    Explaining further Udo noted: “Aluminium is essential to modern economies due to its wide applications in automobiles, aircraft, buildings, and electronics. We strongly believe the President can turn the economy around, but he must avoid the mistakes of past administrations.”

    He recalled that in 1997, Voest Alpine Industrial Services submitted a proposal to refurbish ALSCON at a cost of N42 billion ($490 million). Today, he said, it would cost more than 200per cent of that amount to restore the plant.

    “This is similar to what happened with the Ajaokuta Steel Plant. Nigeria paid ArcelorMittal’s Global Steel Holdings N199.81 billion ($446 million) in arbitration settlement due to breach of agreement. The same scenario is playing out with ALSCON,” he said.

    Experts say the plant could significantly boost Nigeria’s GDP, regional employment, and national exports. “ALSCON’s operations could generate as much as N5.71 trillion ($3.564 billion) annually.” Udoh noted.

    He equally condemned the 2014 London Court of International Arbitration (LCIA) award favoring Dayson Holdings, labeling it “fraudulently procured.” He cited the intervention of Barrister Lois Ikongbeh, a former government legal counsel, who contested the authenticity of the arbitration, leading to Dayson’s quiet withdrawal of its initial suit and re-filing for enforcement at the Federal High Court, Apo in 2019.

    According to the LCIA ruling, Dayson was affirmed as legal owner of ALSCON shares, with BPE ordered to pay legal and arbitration fees totaling over €600,000. However, Udoh insists this decision contradicts the Supreme Court judgment and is void.

    “The arbitral panel ignored the fact that the Share Purchase Agreement was signed while litigation was ongoing, making it null and void,” he said. “The tribunal remained willfully blind to the facts as long as BPE provided sworn declarations.”

    He warned that Nigeria’s position in the global aluminium value chain has become “precariously import-dependent,” adding, “We have lost not just jobs and income, but massive productivity by failing to add value to our gas and natural resources.”

  • OFFICIAL STATEMENT FROM ALSCON REGARDING EFCC INVESTIGATION

    OFFICIAL STATEMENT FROM ALSCON REGARDING EFCC INVESTIGATION

    ALSCON (Aluminum Smelter Company of Nigeria) wishes to address the ongoing investigation conducted by the Economic and Financial Crimes Commission of Nigeria (EFCC).

    It is important to clarify that the EFCC’s investigation commenced in 2021 and included an inspection of our facility in 2022. The investigation was resumed in October 2024.

    The focus of the EFCC’s inquiry pertains to funds invested by RUSAL in ALSCON since privatization in 2006, aimed at the development and commencement of production of the factory in 2008. Additionally, funds allocated since 2014 have been directed towards employee salaries, maintenance of the facility, and safeguarding it against vandalization following unilateral cessation of gas supplies by the Nigerian Gas Company. Unfortunately, these legitimate financial activities seem to have been misinterpreted by the EFCC as money laundering.

    Since the resumption of the investigation in October 2024, ALSCON management and employees have faced over 10 inquiries and requests for questioning. We believe that these actions may be perceived as targeted pressure on a foreign investor, which could adversely affect our operations in Nigeria. Furthermore, we regret to report that the Managing Director of ALSCON was detained on 15 May 2025, without any formal charges being filed against him or ALSCON. Unfortunately, this is not the first case of interference from law enforcement agencies over the years. Additionally, in March of this year, military actions severely disrupted ALSCON’s business operations.

    Read Also: ALSCON sponsors quiz competition for host communities

    It is crucial to understand that ALSCON operates within a legally and internationally recognized Economic Processing Zone in Nigeria. We are concerned that these actions represent undue pressure on ALSCON and RUSAL, as well as interference with our operations and the broader economic objectives of the Government of Nigeria, affecting its investment climate. In case of any actions aimed at challenging

    RUSAL’s rights, RUSAL is determined to defend its rights judicially in Nigeria and internationally.

    ALSCON remains committed to transparency and cooperation with regulatory authorities while advocating for fair treatment and respect for our rights as a foreign investor in Nigeria.

    RUSAL ALSCON Management

  • ALSCON sponsors quiz competition for host communities

    ALSCON sponsors quiz competition for host communities

    RUSAL, managers of the Aluminum Smelter Company of Nigeria (ALSCON), has sponsored a quiz competition among selected secondary schools in Ikot Abasi local government area of Akwa Ibom State.

    The quiz tournament tagged: ‘Rusal Educational Summit 2025’ was organyized by the community Education Development Initiative (CEDI) with support from RUSAL, managers of ALSCON.

    The competition, which took place at the Alscon Staff Secondary School, was aimed at boosting the educational growth and development of students of the company’s host communities.

    The General Manager Public Relations of ALSCON, Mr. Alexander Ashkinazi, who declared the quiz tournament open, said the quiz competition was part of the company’s community social responsibility (CSR) to it’s host communities.

    Apart from the quiz tournament, Ashkinazi maintained that ALSCON has initiated several educational and skills empowerment programmes within and outside the company for indigenes of Ikot Abasi local government area and it’s environs.

    He said: “RUSAL’s management pays great attention to the educational process and everything related to increasing students’ motivation and developing useful practical skills.

    “We have initiated a series of essential processes for the community, including: Providing assistance in the Russia-Nigeria bilateral educational program. 

    “Currently, 10 sons and daughters of Ikot Abasi are already involved in it. In 2024, 7 students were sent. In 2025, 5 candidates, of which 3 are already studying, and 2 are preparing to be sent. Currently, 11 are undergoing pre-training for dispatch at the end of 2025”.

    On skills acquisition trainings Ashkinazi said,: “As part of the Fork Lift initiative, which is an active form of the industrial attachment, 5 young men have been trained and acquired the skills to operate a Forklift truck. 

    “Computer classes are conducted on the basis of our laboratory, in which 2 groups of 17 students have already graduated. The third group of 9 people is being trained.

    Read Also: ALSCON: community absolves RUSAL over allegation of vandalism

    “We have initiated the second round of Industrial attachment in the areas of welder and mechanic – this is a pilot program that started on March 03, 2025 and involves 2 representatives of Icot Abasi.

    “The Ikot Abasi Skills Acquisition Centre for girls was opened in November 2024. Now children have the opportunity to acquire practical skills by studying hairdressing, modeling, manicure and pedicure, tailoring and shoemaking.  The association of young single mothers contacted us and now the center provides them with free assistance”.

    He said that RUSAL’s management and ALSCON are firmly committed to the goal of resuming ALSCON’s operations after resolving the key issues like the legal dispute over ownership and stable gas supply after a feasible price has been agreed on.

    “We are confident that through joint efforts with the support of the community and their leaders at the local and regional levels, as well as with the participation of the federal government, it will be possible to resolve all existing obstacles”, Ashkinazi said.

    The Coordinator of CEDI, Comrade Uboho Oku explained that the quiz competition was organised to promote academic excellence and boost the minds of young people in Ikot Abasi.

    “We sincerely appreciate RUSAL, the managers of ALSCON for sponsorship this quiz competition aimed at promoting academic excellence and brightening the future of young people”, he said.

    ALSCON Staff Secondary School emerged overall winner of the quiz competition followed by Saint Theresa Secondary School which came second. Ten  schools participated in the quiz competition.

  • FG hails condition of equipment, facilities in ALSCON

    FG hails condition of equipment, facilities in ALSCON

    The Federal Government has raised the hope that the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom state will soon restart production.

    Minister of Steel Development, Prince Shuaibu Abubakar Audu, who visited the plant, expressed satisfaction with the condition of equipment and facilities at the plant despite it’s shut down over a decade ago.

    Audu said that consultations and stakeholders engagements are ongoing to resolve the challenges of gas supply to the plant, tussle of the ownership of ALSCON between BFIG and RUSAL, and the dredging of Imo River.

    The Minister stated that President Bola Tinubu intends to ginger the economy and create jobs in line with the Renewed Hope Agenda of his administration hence the urgent need to revive ALSCON.

    His words, “I think it is very clear that the federal government has invested a significant amount of resources in getting the plant here in the first place.

    Read Also: ALSCON: community absolves RUSAL over allegation of vandalism

    “The plant started operations in 1997, operated for about two years, went into a stop gap and then started producing again from 2008 to 2013. 

    “It is important to note that in terms of job creation opportunities can create, it can create both direct and indirect jobs to the sum of 20,000. This is very significant.

    “The current managers of the plant have invested over 400 million Dollars in the plant. This is very critical to the Renewed Hope Agenda of Mr. President. Mr. President wants to grow the Nigerian economy up one trillion dollars in 2030. For that to happen critical plants and national assets need to come back onboard.

    “As you can see the plant here has been shut down for over a decade and we have massive resources that are wasting away. There is a blueprint for the plant to come back in few years. However, there are teething issues has to resolve.

    “As the leader of the steel industry and representative of Mr. President, I am committed to resolving the issues particularly the ownership tussle between the BFI Group and RUSAL. This has to be resolved very quickly.

    “There is also the problem of gas supply which has to be dealt with. There is also the issue of the dredging of the Imo River. I have gone around the plant and as federal government, we will do everything humanly possible to bring the plant”.

    The Managing Director of ALSCON, Zavlyalov Dmitriy, said that the management of the company was ready to recommence operation when all the impediments are sorted out.

    Dmitriy said that despite the shut down of the plant for over ten years, RUSAL has been maintaining the facilities and equipment at the plant.

    He added that RUSAL has been consistent in it’s community social responsibility by providing overseas scholarship, skills acquisition trainings and other empowerment programmes to ALSCON host community.

  • ALSCON: community absolves RUSAL over allegation of vandalism

    ALSCON: community absolves RUSAL over allegation of vandalism

    Ikpa Ibekwe, host community of the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom state, has absolved RUSAL of the allegation of vandalising assets of the company.

    The community rose in defence of RUSAL after reports emerged last week that the Russian aluminum giant was vandalizing equipment and assets of ALSCON.

    Recall that RUSAL took over the management of ALSCON but discontinued production in 2013 after the cessation of gas supply to the plant by the federal government.

    But traditional and youth leaders, who spoke with journalists yesterday, stated that the reports were untrue and unfounded.

    The clan of Ikpa Ibekwe, HRH Eteidung Akpan Nelson Inyang said that the community can confirm that no asset of ALSCON has been stolen.

    Inyang said, “it is completely false that RUSAL has stripped ALSCON of it’s assets. I have had cause to personally investigate the allegation and have discovered that is untrue and the handiwork of mischief makers.

    “RUSAL has been committed to maintaining the assets at the plant at great cost even when it is not producing and generating any income for years now.

    “Our people need to be sensitized to know that instead of spreading falsehood, they should join hands and voices in calling on the federal government to restore gas supply and put modalities in place for the resuscitation of ALSCON”.

    The village head of Ikot Essien in Ikpa Ibekwe,  Eteidung Ufot Akpan Nathaniel disclosed that the community has vigilantes which secure the assets of the company as well as monitor the entry and exit of items from the ALSCON plant.

    Read Also: ALSCON’s Official Position on the Article Dated September 6, 2024

    “I can tell you for free that it is not true that RUSAL has been vandalizing equipment from ALSCON. Even if it was true from where will they pass with the vandalized equipment.

    “We have vigilantes which secure our territory up to Edemaya, Essene, Ette and other entry and exit points. So there is no such as asset stripping”.

    The youth leader of Ikpa Ibekwe, Comrade Etop Sunday hailed the company for living up to it’s corporate social responsibility (CSR), adding that ALSCON has impacted positively on the community.

    He mentioned the computer literacy centre, skills acquisition centre, youth development centre and several scholarship awards to indigenes of Ikpa Ibekwe and it’s environs are some of the CSR interventions by RUSAL-ALSCON.

    Earlier the Director of Governnment/Public Relations Directorate of the company, Mr.Aleksandr Ashkinazi had taken journalists on an inspection tour of the company’s facilities.

  • ALSCON’s official position remains unchanged and based on fundamental international laws

    ALSCON’s official position remains unchanged and based on fundamental international laws

    According to the press, namely an article in the This Day dated November 12, 2024. 

    Quote A: “The federal government yesterday superintended over the signing of an agreement between BFI Group and CNCEC for the restarting of the Aluminum Smelter Company of Nigeria (ALSCON) located in Ikot Abasi, Akwa Ibom State.”

    Quote B: “The plant has a capacity to produce about one million metric tons of aluminum per annum, the sponsors said.”

    To Quote A: Any actions openly supporting BFIG’s illegitimate claims to the shares in ALSCON held by Dayson Holdings, Ltd., a member of UC RUSAL group, challenge RUSAL’s rightful ownership of those shares that has been upheld judicially in Nigeria and internationally.

    Again, we would like to emphasize that 85% of ALSCON shares are validly owned by UC RUSAL group, while the Government of Nigeria through the Bureau of Public Enterprises (BPE) owns the remaining 15%. This has been officially communicated to CNCEC by RUSAL.

    It has been the major objective of UC RUSAL over the years to resume operations at ALSCON. For this, the company’s management has been elaborating with the highest Nigerian state officials, making specific proposals for restarting the plant. However, the restart process is being hindered by frustration of the Nigerian government to ensure effective protection of UC RUSAL’s rights as a foreign investor. In particular, to ensure stability of the operational process, as well as uninterrupted gas supply to the plant, cessation of which was the reason for the shutdown of production at ALSCONin 2013.

    Any actions aimed at engaging CNCEC or any other third party to reactivate operations at the ALSCON plant, are illegal and challenge RUSAL’s rightful ownership of the shares that RUSAL lawfully acquired through the tender process from the Nigerian government.  

    While there is firm confidence that Government will find the strength to effectively protect the investments of UC RUSAL and provide the necessary conditions for ALSCON to work effectively for the benefit of the Nigerian economy, RUSAL is determined to defend its title to ALSCON.

    To Quote B: the designed production capacity of ALSCON is 193,000 tones of aluminium ingot per annum, and not 1 million tons.