RUSAL acquired 77.5% in Alscon

RUSAL acquired 77.5% in Aluminium Smelter Company of Nigeria (Alscon), the company informed.

This deal will permit RUSAL to increase the output by 150,000 t/y.

The investments in the modernization of the plant are assumed to gain $150mln over the 3-year period.

The plant should go online by the end of 2007

The terms of the deal include the dredging of the Imo River necessary to create the transport infrastructure, RUSAL said.

RUSAL is ranked as one of three leaders of primary aluminium production in the world. It was founded in 2000 through the merger of the leading plants in CIS. It covers 75% of the Russian and 10% of the foreign market.