news-details

FG partners Russian firm to complete Ajaokuta steel

According to her, the MOU was signed when Audu led a Nigerian delegation to Moscow, Russia, from September 14 to 21.

The Ajaokuta Integrated Steel Complex, conceived in 1979, was developed to establish a Metallurgical Process Plant alongside an Engineering Complex and various auxiliary facilities.

The facility which remained moribund for decades, is yet to produce a single sheet of steel due to corruption and legal bottlenecks.

The complex is meant to generate important upstream and downstream industrial and economic activities that are critical to the diversification of the economy into an industrial one.

But since assuming office, the current minister assured Nigerians that the steel company will begin production and end the import of steel.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market