The recent setback has sparked renewed criticism of the project, prompting many Nigerians to question its feasibility and potential economic advantages. Critics highlight the escalating costs, recurrent delays, and perceived lack of transparency as indicators of mismanagement and inadequate planning.
ALSCON was established with the explicit aim of harnessing Nigeria's vast gas reserves and curbing gas flaring, redirecting this resource to power the smelter plant through a gas-to-power framework. Originally commissioned in 1999, the smelter has lain dormant since 2007. Despite initial hopes of resuming operations by 2020, subsequent delays pushed the target to 2023. However, it now appears doubtful that even this revised timeline will be met.
Egypt Aluminum sees a double-digit hike in net profit during the nine-month period of FY2024
