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Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official - Business - Nairaland

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Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Omooba77: 8:28am On Jan 13, 2015
Minister of of Mines and Steel Development, Mr. Mohammed Sada

The Federal Ministry of Mines and Steel Development on Monday said the Light Section Mill (LSM) of the Ajaokuta and Delta Steel companies would commence production in 2015.

The Director of Steel and Non-Ferrous Metals Department in the ministry, Mr. Abdullahi Also, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.

He said both companies had signed Memoranda of Understanding (MoUs) with different private investors on billet conversion to iron rods and other steel materials.

“The private investors will bring their billet and convert it to iron rods. We are starting that this year.

“The investors that signed MoU with Ajaokuta are a consortium from Nigeria and Ukraine,’’Also said.

“The LSM is a section of the rolling mill built for the production of iron rods and other steel materials.

“The company is divided into light, medium and heavy section mills.’’
According to Also, the Delta Steel Company was sold to an India company — Global Infrastructure — in 2005.

He said it operated for some time during which it borrowed a lot of money from Nigerian banks.

“When they took over they were producing and selling the products, but unfortunately they were not reinvesting in the plant and in fact, at a point they could not even run the plant,’’ he said.

The director said Global Infrastructure was unable to repay its loan and pay workers’ salaries.

Also said the banks sold the debt to Asset Management Corporation of Nigeria (AMCON) and also had the challenge of replacing or repairing broken down machines.

He said this led to the takeover of the plant by AMCON under the receiver-manager and had been discussing with new investors to take over the plants.

“First of all, they have to agree on terms and secondly, they have to reactivate the plant. I am hopeful that Delta Steel will begin operation this year.’’

He said out of the four privatised government-owned rolling mills, only Katsina Rolling Mill was functional.

According to him, Delta Steel, Jos, and Osogbo Mills are yet to commence operation nine years after their privatisation.

Also said initially Katsina bought billet which it rolled into iron rods, but it had added other scrap-melting facilities to produce its own billet and roll into iron rods.

He said the ministry had been discussing with the owners of Jos and Osogbo Mills on the need to commence operations.

“We will continue to discuss with them. federal government’s plan is that the rolling mills should commence production after privatisation.

“Unfortunately, we are still battling with the owners to see that they begin operation. These are lessons we have to learn from when next we are privatising,” Also said.
http://www.thisdaylive.com/articles/ajaokuta-delta-steel-company-to-begin-production-in-2015-says-official/199016/

2 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by obiZEAL(m): 8:39am On Jan 13, 2015
No be today we don dey hear this one now...

29 Likes 1 Share

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by borntosave: 8:53am On Jan 13, 2015
Nice development

8 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Greatomotoy: 9:44am On Jan 13, 2015
good development

5 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Omooba77: 10:16am On Jan 13, 2015
I pray it works; I was went there for job interview and was impressed by the massive plant; but is wasting away..

4 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Omooba77: 10:54am On Jan 13, 2015
FP if corruption will not change the course..............
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Omooba77: 1:22pm On Jan 13, 2015
This place alone can employ thousands of engineers..

9 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by kennygee(f): 2:32pm On Jan 13, 2015
Till we see am.

2 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by korel9: 2:32pm On Jan 13, 2015
GEJ is working. cheesy














Haters should go and hug transformer grin

16 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by asala1: 2:33pm On Jan 13, 2015
Production of what in particular? LSM? Same old bulls.hit. Clueless country. sad

8 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by abila122: 2:33pm On Jan 13, 2015
that is a great news





Buhari, incorruptible, honest – Gov. Lamido
Source: http://e reporter.com.ng/index.php/political-news/item/2540-buhari-incorruptible-honest-gov-lamido

1 Like

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by ifeanyidavid: 2:33pm On Jan 13, 2015
Story for the gods

1 Like

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by gistmelove(m): 2:33pm On Jan 13, 2015
Ok

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by PerfumeRepublik: 2:34pm On Jan 13, 2015
Greatomotoy:
good development
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by alexitohan2020(m): 2:34pm On Jan 13, 2015
That's good news. Hope they commence as promised....
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by holatin(m): 2:34pm On Jan 13, 2015
May God say amen to it this time

buhari LA President
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by bankyblue(m): 2:34pm On Jan 13, 2015
who will commission it GMB OR GEJ?
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Dannyset(m): 2:35pm On Jan 13, 2015
To begin abi? Scam of the year.
So we heard "I will fight corruption if elected"
What happened to the 6 years u used?
"I will implement Confab report if elected"
What cluelessness!
Whatever u hav done(right or WRONG), pls go JonaThieves, we are tired of you.

4 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by bennygreat1(m): 2:35pm On Jan 13, 2015
We re moving forward.....
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by gabriel212: 2:35pm On Jan 13, 2015
after you all smell defeat?
No wahala GMB will make it best take the glory.
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by princesuko(m): 2:36pm On Jan 13, 2015
Whatever.....Article too long.... cant Read....

Lazyness
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by LoveMEBaby(m): 2:36pm On Jan 13, 2015
we hope so
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by holatin(m): 2:36pm On Jan 13, 2015
korel9:
GEJ is working. cheesy














Haters should go and hug transformer grin
see u roaming nl madlessly.

clueless kid

5 Likes 1 Share

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Kennywills7(m): 2:36pm On Jan 13, 2015
Nice one & good development for d unemploy youths
as this has s capacity to employ thousands of our youths

2 Likes 1 Share

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by MadCow1: 2:36pm On Jan 13, 2015
korel9:
GEJ is working. cheesy














Haters should go and hug transformer grin

To begin... Meaning e never start.. No date was given, no time frame either.. And if I know GEJ, like his promise of providing electricity in under four years, this steel mill business is just another campaign promise..

You may want to enrol in one of GEJs universities.. grin

7 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by dmjinc(m): 2:37pm On Jan 13, 2015
*dont tell anyone*

5 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by KenSaroWiwa: 2:37pm On Jan 13, 2015
Good development and I hope this will create more jobs.

2 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Nobody: 2:37pm On Jan 13, 2015
Good....if they mean it.
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Vstuffs(m): 2:37pm On Jan 13, 2015
ok
Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by gabriel212: 2:37pm On Jan 13, 2015
bankyblue:
who will commission it GMB OR GEJ?
IF GMB DID NOT COMMISSION IT WHO WILL?
OSINBAJO!

4 Likes

Re: Ajaokuta, Delta Steel Company To Begin Production In 2015, Says Official by Francon(f): 2:38pm On Jan 13, 2015
Kudos

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