FG, China Set to Build New Steel Plant in Nigeria
To commence military hardwares in Ajaokuta
The federal government yesterday, disclosed that it was holding discussions with a Chinese firm to build a new steel plant in Nigeria as well as commence the building of military hardwares at the Ajaokuta Steel Plant.
To this end, the government has sent a delegation led by the Minister of Steel Development, Shuaibu Audu, the Minister of Defence, Alhaji Mohammed Badaru and the Permanent Secretary of the Ministry of Steel Development, Dr. Mary
A Ogbe, on a tour of the Luan Steel Holding Group in Hefei and Guangzhou Regions of China.
Audu, in a statement in Abuja, that was released by the Head, Press & Public Relations of the ministry, Salamatu F. Jibaniya, stated that the trip to China was one of the steps being taken to realise the goals of reviving the steel industry in Nigeria, in line with the Renewed Hope’ Agenda of President Bola Ahmed Tinubu.
Audu, said work had commenced to create an operational steel industry that would attract billions of dollars of foreign direct investments into the country, open up the nation’s economy and create thousands of job opportunities.
He further noted that building military hardwares at the Ajaokuta steel plant was also timely, considering that Nigeria was facing security challenges.
"This would help in the fight against insecurity and terrorism.
"We had very meaningful discussions with the Chairman of Luan Steel Holding Group, Mr. Wang Jianbing, the Chief Executive Officer of the Company, Mr. Xiao Weizhan, and other senior Executives of the Luan Steel Holding Group.
"Like several other international and local investors, Luan Steel Holding Group has indicated interest in setting up a new Steel Plant in Nigeria, as well as handling a component of the Ajaokuta Steel Plant for building military hard wares in Nigeria.
“We are optimistic that before the end of President Tinubu’s administration, we will commence commercial Steel Production in some of the government owned entities in Nigeria."