Nigerian, Chinese firms to revamp Ajaokuta Steel Plant

of equipment which have been well preserved over the 30 years of non-production of steel.

Quanli, a specialist in heavy steel industry design and construction with specialisation in heavy metallurgical plants, said Ajaokuta Steel Plant meets all the required standards of a steel plant but regrettably the plant has wasted for years due to noncompletion.

He said if given the chance to invest in the plant, within a few years Nigeria will become selfreliant and export all sorts of steel products to neighbouring countries and diversify the products mix into rails and sheets in support of the value chain enhancement under the Federal Government of Nigeria’s new automotive and industrialisation policies.

Quanli said the consortium is willing and ready with its technological innovations to upgrade the available coal within the country to cooking coal for blast furnace use, direct reduction of iron and for power generation with high environmental responsibility, adding that the company, which is a high-and-new technological innovation company, specialises in the research and development, manufacturing and sales of steel scraps preheating and complete conveying of equipment, vibrating machines and environmental protection equipment.

Also speaking, the chairman of Total Steel Nigeria, Alhaji Hussaini Abdulrahman, said his company has vast experience in steel manufacturing spanning 30 years and currently owns a steel plant and substantial upstream coal and iron ore resources all within a 50 km radius of Ajaokuta Steel Plant also within close proximity of rail, road and river transport ideal for economically viable and sustainable running of the plant.

Abdulrahman said the consortium has done its research very well and therefore wishes that government as a matter of urgency will diversify the nation’s economy to accelerate the commissioning of the plant via a PPP while its ultimate privatisation can follow soon after.

He further said that the project will not only reduce importation of steel but will generate employment and skills acquisition across its entire value chain through the exploration and mining of coal, Iron ore and limestone and their transportation to the manufacturing of iron and steel and delivery to end users downstream, locally and internationally.

He noted that the consortium will be greatly honoured to be part of a major national economic diversification and capital flight reduction project.

Alhaji Abdulrahman faulted national economic policies which encourage 100% foreign ownership and exploitation of Nigeria’s mineral resources and privatised manufacturing enterprises which have aggravated capital flight and called on the Federal Government to encourage Joint and Profit Sharing Ventures which will allow Nigerians acquire capital, skills and entrepreneurship in the process, promote the retention of the profits in Nigeria and result in the growth of local banks and stability of our capital markets.