President Muhammadu Buhari is set to re-inaugurate the revived Aluminum Smelting Company of Nigeria (ALSCON), in Ikot Abasi, Akwa Ibom State. According to NAN, the re-inauguration will enable the company to commence production after being moribund for over a decade.
The Director-General (DG), Bureau of Public Enterprises (BPE), Mr Alex Okoh, gave the hint through the Head, Public Communications, BPE, Mrs. Amina Othman, on Sunday in Abuja.
Okoh disclosed that the signing of Addendum Number 2 to the Share Purchase Agreement (SPA) on January 17, 2018 provided a roadmap for ALSCON's resumption of production.
He added, the revival of ALSCON will improve the growth and development of the aluminum industry as well as Nigeria's economy in areas of job creation, conserving foreign exchange, aid the automobile and allied industries and also enable create spin-off industries.
Okoh said BPE alongside Critical stakeholders of ALSCON will reach a comprehensive agreement on the growing issues of gas price and supply challenging the company as well as consider the company remains competitive in the global aluminum product market.
The DG stated that BPE had asked the Federal Government to consider and approve the categorization of ALSCON under a strategic industry, so as to enable the investors by gas at a concessionary price for the recommencement of production in the company.