Abuja has secured a $1.2 billion agreement with Chinese state-owned CNCEC to revive a key gas processing plant tied to aluminum production. The deal, announced by Minister of Petroleum Resources, Epkerikpe Ekpo, involves restoring a facility at the Aluminium Smelter Company of Nigeria (ALSCON) in Akwa Ibom, idle for years due to legal and financial difficulties. The project will revamp the 135 million standard cubic feet per day gas plant, enabling the production of up to one million tons of aluminum annually and generating 540 megawatts of electricity. This move, if successful, will position Nigeria as a major aluminum producer in Africa and globally. ALSCON, inactive since 2000, faced multiple setbacks, including a stalled modernization by Russian firm UC RUSAL. The new deal aims to overcome past challenges and boost Nigeria’s industrial sector.
SOURCE: NAIRAMETRICS
