Nigeria: FG Probes Rusal Over Delay in Imo River Dredging

The Federal Government has established a five member committee to probe the delay in the dredging of Imo River channel by RUSAL, the core investor for Aluminium Smelter Company of Nigeria (ALSCON), the Bureau of Public Enterprise (BPE) said yesterday. In a statement, the BPE said the committee chaired by the Secretary to the Government of the Federation, Alhaji Mahmud Yayale Ahmed, has Mr. Humphrey E. Aba, the Minister of State for Commerce and Industry; Dr. Christopher Anyanwu, the Director General of the Bureau of Public Enterprises (BPE); Mr. A.A. Gulak of the Vice President's Office; and the General Counsel of BPE as members. It said the National Council on Privatisation (NCP) took the decision at its 57th meeting on February 26, 2009 at Abuja following reports that RUSAL was yet to commence the dredging of Imo River Channel. The statement signed by the Head of Public Communication, Mr. Chigbo Anichebe said that out of the $250 million bid amount for ALSCON, the sum of $120 million was set aside for the dredging of the river but no work has commenced ever since. It said; "RUSAL, who had earlier provided a shortlist of companies that would be requested to submit tenders for the dredging work, has subsequently opted to advertise for an Expression of interest for potential dredging company in an open tender process. The BPE had on several occasions impressed upon RUSAL the need to expedite the dredging process but the core investor has not been short on excuses."