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Aluminium Smelter Company of Nigeria (ALSCON)

To date, Ikot Abasi Town, in Ikot Abasi Local Council of Akwa Ibom State, still plays host to a number of colonial and neo-colonial relics of national importance. Peopled by a handful of civil servants, the area is home to predominantly farmers, fishermen, and sundry artisans.Some of the colonial and neo-colonial landmarks that still dot the area include the now rickety 1914 Amalgamation House along Marina Road; the floating jetty better known as the “Bridge of no Return,” built in 1795 (which many Nigerians sold into slavery set foot on); the European Cemetery; one of the oldest overhead water tanks in the country, and the statue of a woman breaking a gun, which is in memory of women who died in the famous 1929 Women’s Riot.


Except something is done and fast too, the $3.2 billion Aluminium Smelter Company of Nigeria (ALSCON), may soon join the league of historical relics in the area. This time, the Federal Government and its Bureau of Public Enterprises (BPE), would jointly take the credit for facilitating the very sad spectacle, and the blighting of a promising company with potentials to offer 1, 500 Nigerians direct employment.

The facility, which also has space to offer over 10, 000 indirect employment, was to save the country, over $3b of aluminium ingots and others through import by the downstream sector annually. Today, it is estimated that with the crisis in ALSCON, it costs the country and key downstream players like First Aluminium, Alumaco, and others, well over $6b annually through to import ingots for local production of aluminium products.

Name of Enterprise
Eleme Petrochemicals Company Limited
Name of Investor
Indorama Plc
Date of Handover
October, 2006
Concession Tenure
25 Years
Status
Operational