The Aluminium Smelter Company of Nigeria (ALSCON), located in Ikot Abasi, Akwa Ibom State, is set for revitalization following a $1.2 billion agreement signed in November 2024 between BFI Group, ALSCON's core investor, and the China National Chemical Engineering Corporation (CNCEC). This initiative aims to rehabilitate ALSCON's 135 million standard cubic feet per day (MMscfd) gas processing plant, which is integral to resuming aluminium production. Once operational, ALSCON is projected to produce up to one million metric tonnes of aluminium annually and generate approximately 540 megawatts of electricity, significantly contributing to Nigeria's industrial and energy sectors.
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