10 December 2012

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.

Copyright © 2012 Daily Trust. 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.