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ALSCON Set To Improve Nat. Power Generation
New owners of Aluminum Smelter Company of Nigeria (ALSCON), Ikot Abasi in Akwa Ibom State, BFIG International has disclosed plans to diversify the aluminum plant to boost power provision in the country.
Chairman of BFIG, Dr. Rueben Mietamuno-Jaja made the plans public when he paid a visit to the Chairman of Ikot Abasi Local Government Area, Mr. Ufot Sunday Udoinyang at the weekend.
A Federal High Court in Abuja had on 30th September ruled that BFIG take over the plant in line with a Supreme Court judgement that affirmed the company’s bidding and ownership of the facility three years ago.
Justice Abdulkadir Abdulkafarati, in the judgment, ordered the Bureau for Public Enterprise (BPE) “to fully enforce, fulfill and give effect to the meaning and intendment of the judgment of the Supreme Court of Nigeria in appeal No: SC 12/2008 dated July 6, 2012 by signing and executing forthwith, ‘the mutually agreed Share Purchase Agreement (SPA) annexed to the applicant’s motion.”
According to Jaja, ALSCON produces over 500 megawatts of power through a gas generated plant at Ikot Abasi but is currently under-utilized.
He revealed that already, talks have begun with the federal authorities, expressing hope that such diversification will provide funds to revitalize the moribund plant now valued at $100 million due to vandalization and pilfering by its former managers.
“No matter what has been done to ALSCON, we have the resources to bring it back to where it supposed to be,” said Jaja.
Part of the new vision, he further stated, is to make the aluminum plant the largest in West Africa after the closure of similar plants in Ghana and Cameroon, and enlist it in the Nigeria Stock Exchange in the next three years.
The Opobo-born international businessman urged the community to ensure that the facility is protected, assuring that host communities comprising those in Akwa-Ibom and Rivers states will benefit since the plant has huge economic value.
“The aluminum plant is an international resource, it has over 17 components to generate employment, power, health, marine and gas opportunities,” he said.
On his part, Chairman of the local government council, Udoinyang commended Jaja for his enterprising and resilient spirit, pointing out that ALSCON is the only federal presence in the area hence the people are ready to provide every support to make sure the plant fully kicks off.
“What we need is transition without a steam. Let the average Ikot Abasi man or woman transit into BFIG. This will bring needed peace and progress,” the LG boss added.
Mietamuno-Jaja and his team also paid a courtesy visit on the traditional ruler of Ikot Abasi, Edidem Udon Ntukobom, and addressed youth of the area, assuring that the company would carry them along in the scheme of things.
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