Mumbai, April 25 (Commoditiescontrol): Nigeria's ambition to establish a domestic aluminum industry has suffered another setback as the $3.2 billion Aluminium Smelter Company of Nigeria (ALSCON) failed to meet its latest revival target. The project, plagued by delays, funding issues, and legal disputes, has sparked renewed criticism about its viability.
Despite previous assurances from Nigerian officials that ALSCON would resume operations by the end of 2023, the plant remains dormant. The smelter was originally built to utilize Nigeria's gas reserves and reduce flaring, but it has been non-operational since 2007.
Critics cite the project's history of missed deadlines, cost overruns, and lack of transparency as evidence of poor management. Plans to revive ALSCON have been complicated by a protracted legal battle over its privatization, with the Supreme Court only affirming the rightful owners in 2012.
(By Commoditiescontrol Bureau; +91-9820130172)
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