The federal government has begun an initiative to revive the Aluminium Smelting Company of Nigeria (ALSCON), a pivotal player in the nation’s industrial landscape.
The Assistant Director, Information and Public Relations of the Ministry of Steel Development, Tine-Lulun Maureen, disclosed this in a statement on Tuesday.
According to the statement, the revival will reinvigorate the local economy, create jobs, and enhance Nigeria’s position in the global aluminium market.
ALSCON, incorporated in 1989, was originally a joint venture project between the Nigerian government and two foreign technical partners, Ferrostaal AG of Germany and Reynolds International Inc. U.S.
For over a decade, the company has been enmeshed in an ownership tussle between a Nigerian-American consortium, BFIGroup, and a Russian firm, UC RUSAL.
In July 2023, Vice President Kashim Shettima restated the determination of the Bola Tinubu administration to revive ALSCON, particularly by engaging with…
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