Ndubuisi Francis in Abuja
The Bureau of Public Enterprise (BPE) has requested the federal government to consider and approve the categorisation of the Aluminium Smelting Company of Nigeria (ALSCON), Ikot Ibasi, Akwa Ibom State under a strategic industry to enable it buy gas at concessionary rather than commercial price to enable the core investor in the company-
DHL/RUSAL recommence production and operate profitably. The request is coming as ALSCON is set to recommence operations with the BPE and other critical stakeholders of the company reaching a comprehensive resolution on the major teething problem of gas confronting the Company.
The BPE stated that as a first step, it was requesting the federal government to consider and approve the categorisation of ALSCON under a strategic industry to enable it buy gas at a concessionary price as opposed to commercial price to enable the core investor recommence production in order to operate profitably.
The BPE Director General, Mr. Alex Okoh, in a statement in Abuja , recalled that following the signing of Addendum No.2 to the Share Purchase Agreement (SPA) on January 17, 2018 at the Ministry of Mines & Steel Development (MMSD), DHL/RUSAL submitted a road map detailing issues that require urgent resolution prior to the commencement of
operations which include but not limited to the issue of gas price and supply.
He said: “Upon the resolution of the gas price and supply issues a new agreement will be signed in line with current realities. It will also take into consideration the trend internationally to allow ALSCON remain competitive in the global aluminium products market.”