Leadership (Abuja)

8 July 2012

Nigeria: UC Rusal, BPE Await Details of Supreme Court Judgment On Alscon

Photo: allAfrica.com
Aluminium products.

United Company RUSAL Plc and Bureau of Public Enterprise are waiting for a copy of the Supreme Court judgment on the sale of Aluminium Smelter Company of Nigeria (ALSCON), Ikot Abasi, Akwa Ibom, to react.

Mr Albert Dyabin, a Director in UC RUSAL, a Russian company, told the News Agency of Nigeria (NAN) on Sunday that the firm had applied for the judgment but had yet to receive it.

"As soon as we receive the written copy of the Supreme Court decision, we will be able to make further comments.

"Currently, ALSCON is a part of UC Rusal and the smelter is operating in a normal mode. At this time, we cannot make further comments because we are yet to get details," Dyabin said.

Also BPE spokesman and Head of Public Communications, Mr Chukwuma Nwoko, told NAN on Sunday that BPE wanted to get a copy of the judgment before making comments.

NANrecalls that the court decided on Friday that BFI Group, the Nigerian-American consortium that emerged the preferred bidder for ALSCON in 2004 but was disqualified by BPE, was the valid winner of the bid.

UCRusal took over the plant in 2006 with a bid of 250 million dollars. NAN

Ads by Google

Copyright © 2012 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

InFocus

Nigeria Strips Aluminium Company of Mine Deal

Aluminium products.

Russian company Rusal, the biggest producer of aluminium in the world, has been stripped of its ownership of an aluminium mine Alscon by the Supreme Court, because the assets once ... Read more »