Market Analysis

During the stay in Nigeria, the official Russian delegation led by President of Russia Dmitry Medvedev the general director of Rusal, Oleg Deripaska visited aluminum smelter ALSCON, a controlling interest of which belongs to the Russian company.

During a visit to Oleg Deripaska ALSCON see the results of large-scale modernization program, which RusAl began to sell immediately after acquiring the plant in 2007.

The total investment in the modernization of production will be approximately $ 300 million With its own development RUSAL to change the design of the cathode lining specialists of the company increased the lifetime of the cells. Application of new advanced technology electrolysis process will increase the capacity of the plant to 197 tonnes of metal per year. Chapter RusAl also talked with management and labor collective of the company, discussed the prospects of development of the plant and its output at full capacity.

In the consultations with the Nigerian authorities Oleg Deripaska raised key questions concerning the stability of the plant, including security staff and uninterrupted supply of gas. Officials of Nigeria, for its part, expressed support for the active participation of RUSAL in the socio-economic development, including through the establishment of necessary infrastructure, support small and medium-sized businesses and social programs.

They also assured that they will actively contribute to the solution of all issues related to the stability of the plant ALSCON, which is one of the key elements of the Federal Government of Nigeria Vision 2020.

Currently the factory employs over 800 staff. When fully loaded ALSCON will provide about 1,9 thousand jobs at the company and about 20 thousand jobs in the state of Aqua Ibom through active development of local infrastructure, including port facilities, as well as companies for maintenance, medical and social services.

In June 2009, RUSAL began selling aluminum produced at the plant Nigerian ALSCON, to local consumers. To date, entered into contracts with local companies to sell products ALSCON totaling about 1 thousand tons of aluminum.

Rusal has acquired a controlling stake in Aluminium Smelter Company of Nigeria (ALSCON), located in the Aqua Ibom State of Nigeria, in February 2007.

In accordance with the terms of the agreement signed with the Bureau of State Enterprises of Nigeria (BPE), RUSAL received 77.5% of the shares of the company ALSCON, which consists of plant capacity 193 000 tonnes of aluminum per year (electrolysis, anode and foundry shop), a port on the Imo River and a gas power plant.

The Nigerian Government and the German Ferrostaal AG remain minority shareholders and company owned 15% of the shares and 7.5, respectively.
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