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

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