UC Rusal Invests $20m in its Nigerian ALSCON

The world’s largest aluminum producer United Company RusAl said it has invested over $20 million in the Aluminum Smelter Company of Nigeria (ALSCON). RusAl acquired a controlling stake in ALSCON in February 2007, followed by an immediate large-scale modernization program on the smelter, which had been idle for eight years. Furthermore, Rusal is projecting to invest about $150 million in the smelter over the next three years. ALSCON is expected to hit nameplate annual capacity of 197,000tpy by late 2010. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.