Nigeria Signs $1.2 Billion Deal to Revive Gas Plant Crucial for Aluminum Production – Africa.com
Abuja has struck a $1.2 billion deal with Chinese state-owned company CNCEC to revive a key gas processing plant linked to aluminum production. The agreement, announced by Petroleum Resources Minister Epkerikpe Ekpo, involves the resumption of a facility of the Aluminum Smelting Company of Nigeria (ALSCON) in Akwa Ibom, which has been idle for years due to legal and financial difficulties. The project will transform a 135 million standard cubic feet per day natural gas plant to produce 1 million tons of aluminum per year and generate 540 megawatts of electricity. The move, if successful, would make Nigeria a major aluminum producer in Africa and globally. ALSCON has been inactive since 2000 and has faced multiple setbacks, including a stalled modernization process by Russian company UC RUSAL. The new agreement aims to overcome past challenges and boost the development of Nigeria’s industrial sector.
source: Namiris
