Daily Trust (Abuja)

Nigeria: 'Rusal Is Genuine Owner of Alscon'

Russian steel company U C Rusal has insisted that it is the rightful owner of the Aluminium Smelter Company of Nigeria (ALSCON) located in Ikot Abasi, Akwa Ibom State despite the Supreme Court ruling ceding the company to BFIG.

Rusal Managing Director Anatoly Polovov alleged that some people were not happy with the progress of the firm in Nigeria and that they were determined to destroy it. He spoke Friday in Abuja.

He said Rusal has plan to make the company one of the best Aluminium smelter company in no distance time with the massive investment and new technology deploying to revamp the plant.

The Supreme Court had on July 6 voided the sale of ALSCON by the Bureau of Public Enterprises (BPE) to RUSAL on the grounds that the BFIG Corporation offered a higher amount of $410 million as against RUSAL's $250 million for the purchase of the plant.

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