RUSAL buys majority holding of Alscon

RUSAL has recently completed the acquisition of the majority holding of Aluminium Smelter Company of Nigeria (Alscon), which is going to increase its aluminum output by 150,000 tons a year. Buying Alscon also means RUSAL can now create a full production cycle in this regions and expand its client network as well as enter the new markets, reports RUSAL’s press officer.

The company bought a 77.5% share holding that includes a plant with the planned production capacity of 193,000 tons of aluminum annually which has an electrolysis shop, an anodic shop, and a foundry; a port on the River Imo, and a gas-fired power plant. The government of Nigeria and Ferrostaal AG of Germany have remained the minority shareholders, with 15% and 7.5% of stock, respectively.