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By Bethel Toby
The Federal Government of Nigeria has facilitated the signing of a $3.5 billion agreement between the BFI Group and China National Chemical Engineering Corporation (CNCEC) to revive the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State.
Our correspondent gathered that the signing of the pact , which was made recently in Abuja, the Federal Capital Territory, is aimed at restarting operations at the plant in Ikot Abasi, Akwa Ibom State.
The endorsement of the partnership follows a meeting between the Minister of State for Petroleum Resources (Gas), Hon Ekperikpe Ekpo, top officials of CNCEC and Chairman of BFI Group, Alabo (Dr) Reuben Mietamuno Saturday Jaja, as well as, the government-approved core investor in ALSCON during President Bola Tinubu’s state visit to Beijing, China, earlier in the year.
It was further disclosed that CNCEC, China’s largest petrol-chemical engineering company, serves as a technical partner of BFI Group, USA on the project.
“It goes without saying that the synergy and cooperation between BFI Group and CNCEC also marks another significant moment in the commitment by the Chinese and Nigerian governments to work together and encourage collaboration between both countries for the continued growth and development of our people. It is our expectation, that this agreement signing ceremony will provide both BFI Group and CNCEC the platform to expedite actions necessary to restart the ALSCON plant”, said Hon Ekperikpe Ekpo, who was represented at the occasion by the Permanent Secretary in the Ministry, Mr Nicholas Ella.
According to the sponsors, the plant has a production capacity of about one million metric tonnes of aluminum annually.
Also at the event, the Deputy Gas Minister, Hon Ekperikpe Ekpo,who described the event as epoch-making, emphasized that the ceremony marked the solidification of the partnerships between the two entities.
Ekpo further highlighted that the milestone reflects President Bola Tinubu’s administration strong commitment to fostering investments in utilizing Nigeria’s abundant natural gas resources to propel the country’s industrialization, economic growth and development.
The minister, however, stated that once the ALSCON plant resumes operations, it is expected to reclaim its role as a key driver for the development of Nigeria’s aluminum upstream and downstream sectors.
He reiterated that the plant will leverage natural gas, positioning Nigeria as a leading aluminum producer in both Africa and the global market.
The project, Ekpo maintained, is aimed at boosting the nation’s industrial output with a production capacity of one million metric tonnes of aluminum per year, and the capability to generate approximately 540 megawatts from its gas-fired power plant.
While congratulating BFI Group and CNCEC on reaching this all-important milestone, Hon Ekperikpe Ekpo expressed confidence that, given the expertise and capabilities of both firms, the project would be completed on time and within budget.
In his remarks, chairman of BFI Group, Alabo (Dr) Reuben Mietamuno Saturday Jaja noted that the meeting between President Bola Tinubu and his Chinese counterpart, XI Jinping had already yielded positive results.
Jaja added that the project would pave the way for establishing comprehensive strategic partnerships in areas, such as, petrol-chemicals, chemical engineering, natural gas processing, fertilizer production, power generation, and infrastructure development, all of which, he said, align with CNCEC’s core expertise.
Meanwhile, Chairman of CNCEC, Mr Bao Guandong , who also spoke at the event, acknowledged Nigeria’s vast oil and gas reserves, and emphasized that BFI Group remains a reliable,. trusted and capable partner.
“We have set up many plants in the world. This project is a win-win situation for both parties.
Today’s signing is a good start. We will do our best to select the best workers and ensure safe, quality and complete control of the project.
CNCEC International will dispatch its best engineers to ensure the safety, quality and schedule of this project. CNCEC International team will closely cooperate with our counterpart to fully support the financing of this project”, Guandong submitted.
