Privatisation: Ukraine bids for Ajaokuta Steel in Nigeria
Resource from: The Nation Likes:2984
Jul 12,2012
THE Ukrainian government has indicated interest to takeover the moribund Ajaokuta Steel factory under the Federal Government privatisation programme.
This development came as the Federal Government said it was doing everything possible to tackle all critical issues impeding the successful privatisation of the steel industry.
Ukranian Ambassador to Nigeria Serhii Khanenko submitted the request of his country when he led a delegation of investors on a courtesy visit to the Ministry of Mines and Steel Development in Abuja.
Khanenko said Ukraine was interested in exploring areas of partnership with the Federal Government in the development of its solid mineral resources as well as reactivation of the Ajaokuta Steel Company Limited.
He said the Ukrainian investors were ready to inject over $2.6 billion into the company. He expressed hope that the project would be given to the Ukrainian government.
Minister of Mines and Steel Development Mohammed Sada said as part of the way forward for the sustainable growth of the steel sector of the economy, the Federal Government was poised to remove any bottlenecks in the privatisation of the steel industries.
He described the visit as not only timely but important considering that President Goodluck Jonathan had given timelines on all outstanding issues affecting the nation’s steel industries in order to move forward.
“Government is working proactively towards ensuring that interests of various stakeholders are brought on board for the development of Nigeria’s steel industries”, he disclosed.
Sada said the present administration is determined to tackle all critical issues impeding the successful privatisation of the steel industries.
The Ukrainian firm, Reprom Company Limited, which is to handle the project, said it has $2.65billion to execute the project with the production capacity of 3.9 metric tons per annum.
(The Nation)
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