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Nigeria: Russia Plans More Investment in Country
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This Day (Lagos)
23 June 2008
Posted to the web 23 June 2008
Okon Basseys
Uyo
With the impressive turn around of the Aluminium Smelter Company of Nigeria Limited (ALSCON) at Ikot Abasi which had been idle for the past eight years into an industrial enterprise by a Russian firm, UC RUSAL, Russia is now to shift more of its investment in Africa to Nigeria.
The President of the Nigeria Russia Business Council, Mr. Goodie Ibru disclosed this on the occasion of the Russian National Day.
Ibru, who was excited by the current production and export strides by the new management called for greater economic ties between Nigeria and Russia.
Commending UC RUSAL for turning around the Nigerian Smelter factory, the President of the Russian Business Council said a substantial part of Russia's investment in Africa will come to Nigeria in key sectors of the economy such as energy, naluminium including iron and steel.
As he put it: "As a fast growing emerging economy, Russia has been investing heavily outside her border and Africa/Middle East is likely to attract 15 percent of Russia's investment".
"I believe that a substantial part of Russia's investment in Africa will come to Nigeria in key sectors of the economy such as energy, aluminium and iron and steel".
Also speaking, the Russian Charge D' Affairs in Nigeria, Mr. Sergy Rogov lauded the Managing Director of RUSAL-ALSCON, Mr. Andrey Partyansky for being a good example of Russian investor in Nigeria saying with the progress the company has attained, "Nigeria has the potential to become one of the major producers of aluminium in the world".
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It would be recalled that the Akwa Ibom State governor, Chief Godswill Akpabio had at his recent visit to ALSCON said the phenomenal strides recorded by the company within 16 months of taking over the management of the plant was a prove of seriousness the core investor attached to the business.
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