…. as Indian Coy, Jindal Steel commits to kick-starting world class steel plant
Minister of Steel Development, Prince Shuaibu Abubakar Audu says his Ministry will collaborate with the Federal Ministry of Works to revive the Light Steel Mill Section of the Ajaokuta Steel Plant. This, he said will facilitate restoration of the mill toward the production of iron rods to be used in constructing infrastructure across the country.
Prince Audu made this known recently in Abuja during a meeting with the Minister of Works, Sen. David Umahi and representatives of the United Bank for Africa (UBA) on plans to kick-start the Light Steel Mill Section of the Ajaokuta Complex on commercial terms.
He said following the approval of President Bola Tinubu, the Ministry is set to commence a collegiate approach to reviving the Steel Plant by exploring all realistic means, adding that the Light Steel Mill Section of Ajaokuta, once revived, will produce iron rods that would be off taken by the Federal Ministry of Works for the construction of infrastructure in the country.
Audu thanked Umahi for the collaboration in the revival efforts of Ajaokuta Steel Plant and the Steel Sector of the country, and commended him for being extremely innovative, adding that the Ministry has a solution to revitalize Ajaokuta using a collegiate approach.
Speaking further, Prince Audu noted that United Bank of Africa has made an offer, which will be discussed toward raising funds within a short period so that the revitalization of the Steel Plant can begin in phases.
Minister of Works, while commending Prince Audu, pledged his support for the resuscitation of the moribund plant which he said has the capacity to create thousands of direct and indirect job opportunities for Nigerians.
In a related development, the Minister met with Mr. Mukesh Sharma, representative of India Steel Company, Jindal Steel in Nigeria, as the Company reiterated its commitment to building a world class steel plant in Nigeria worth over five billion dollars.
He noted the commitment of Jindal Steel to developing Nigeria’s Steel Sector is coming after President Tinubu successfully secured a Steel Investment Deal with the Indian Company on the sidelines of the G-20 Summit in September 2023, in New Delhi, India, adding that discussions are also on with relevant Government Agencies on the best location to allocate to the Indian Company to build its Steel Plant.
He commended Jindal Group for indicating interest to invest about 5 million dollars in Nigeria.
Earlier, VR Sharma said that Jindal Group intends to build a world steel plant of about five million tons capacity which should kick-start in the next few years with the right commitments, adding that the plant would not only serve the Nigerian market but the entire West Africa, Central Africa, and the European markets.
