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USD 400 million required to complete Ajaokuta Steel Plant in Nigeria - THE 17th Guangzhou International Platemetal, bar, wire, metal processing & setting equipment exhibition
4/13/2016 platmetal,bar,wire, & setting equipment expo |
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This Day Live reported that the multi billion US dollar Ajaokuta Iron and Steel Complex which was initiated by the first civilian President of Nigeria, Alhaji Shehu Shagari but later abandoned by the past administrations for over twenty years, will require about USD 400 million to complete the steel plant. The Sole Administrator of the Steel Complex, Engr Joseph Onobere Isah disclosed this when the Kogi State Steering Committee on the Revitalisation of Ajaokuta Steel plant set up by the Kogi State government met with the management team of the steel plant.
According to him, if such money was committed into the project by the federal government, it would take minimum of three years to unveil the steel plant.
He mentioned that about 15,000 Technical staff members are expected to be employed, while indirect employment will be about 500,000 jobs of unskilled, semi-skilled and skilled manpower would be required in the mines, transportation, downstream and upstream industries and other services.
The Sole Administrator noted that the annual revenue generation from the project when unveiled would substantially impact on the internally generated revenue of the state, adding that the required rail link between Ajaokuta through Oturkpo to Onne port for bulk materials movement to Ajaokuta would open up the Eastern Senatorial district to National markets and commerce, while Okaba and Ogboyega coal deposits would also find ready markets at Ajaokuta and elsewhere in the country.
- THE 17th Guangzhou International Platemetal, bar,
wire, metal processing & setting equipment exhibition
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