Nigeria plans to contract Russian firm in reviving steel company
The Nigerian government is expected to sign a Memorandum of Understanding(MoU) with a Russian firm for the resuscitation of the multi-billion U.S. dollars Ajaokuta Steel Rolling Mill in Kogi State in January 2020.
Olamilekan Adegbite, Nigeria's Minister of Mines and Steel, who disclosed this on Monday, said the government meant to bring back on stream the steel rolling mill which was down since the late Nigerian President Shehu Shagari regime.
The minister spoke during his facility tour of the National Steel Raw Material Exploration Agency on Monday in Kaduna State.
While addressing the management staff of the agency, the minister said once the Russian contractors to handle the resuscitation of the Ajaokuta Steel Rolling Mill were identified, the MoU would be signed and work would commence earnestly.
Adegbite said funds for the resuscitation of the steel mill is already in place, adding that a committee has been set up to kick-start the project.
The minister, however, directed the head of the National Steel Raw Material Agency, Umar Hassan to nominate two persons to be part of the committee, saying that the agency was critical to the Ajaokuta project.
Hassan said the agency saddled with the responsibility of mining and exploration in the country, was constrained by inadequate skills, inadequate project vehicles, modeling software as well as dilapidated offices.