The Minister of Steel Development, Prince Shuaibu Abubakar Audu has said the Ministry will partner with the Federal Ministry of Works to revive the Light Steel Mill Section of the Ajaokuta Steel Plant for the production of Iron Rods to be used in constructing infrastructure across the country.
Prince Audu made this known in Abuja following a joint 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 stated that following the approval of Mr. President, the Ministry is set to commence a collegiate approach to reviving the Steel Plant by exploring all realistic means, explaining 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.
He said the Executives of UBA have made an offer, which the Ministry is about to finalize to raise the funds within a short period for the revitalization of the Steel Plant can begin in phases.
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On his part, the Minister of Works pledged his support for the resuscitation of the moribund Plant which he said can create thousands of direct and indirect job opportunities for Nigerians.
In another 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.
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