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Published On: Sun, Jan 21st, 2018

ALSCON: Nigeria, Russia sign Share Purchase agreement

Nigeria has signed the Renewed Share Purchase Agreement with Messrs UC Rusal of Russia in respect of the Aluminium Smelter Company of Nigeria (ALSCON).

The agreement was signed in in Abuja on Friday by the relevant government stakeholders, including the Minister of Mines and Steel Development, Dr Kayode Fayemi.

Present at the ceremony were the Permanent Secretary, Ministry of Mines and Steel Development, Dr Muazu Abdullahi; Minister of State for Mines and Steel Development, Mr. Abubakar Bawa Bwari.

The Director General, Bureau of Public Enterprise (BPE), Mr. Alex Okoh attended the ceremony.

The CEO/Member of the Board of Directors UC Rusal, Mr. Vladislav Soloviev; the Managing Director of ALSCON, Mr. Dmitry Zavyaiov; and Head of Legal, UC Rusal, Mr. Piter Maxsimov, were at the ceremony.

Before its closure, ALSCON was the second largest employer of the Ikot Abasi community after the local council.

Almost 1,800 direct hires were natives. Over 2,500 others worked for support-services companies. It was, perhaps, an answer to the region’s quest for solution to its environmental pollution and youth restiveness.

Since its closure last September, over 200,000 residents of this agrarian community located in the oil-rich Niger Delta region, have been living in darkness.

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