A registered Private Limited Liability Nigerian Company incorporated on 23rd October, 1998 under the Nigerian Companies Act as RC343634 offer for sale at Kiyi village, Kuje area council, FCT, Abuja.
The factory occupies a total land area of approximately 5.5 Hectares, under a 50 years tenor, covered by Customary Certificate of Occupancy No: KAC/FCDA/LP&SIMISC-2908 of 6th January, 1998, issued by the Kuje area council.
As at the time of this Sales Information Memorandum, the Company’s Shareholding Structure is as follows:
Nigerian Indigenous Shareholders: 40%
Non Nigerian {Chinese} Shareholders: 60%
Messrs. China Shanghai Iron and Steel Factory, who is one of the world’s largest manufacturers of plant and machinery for the Iron and Steel Industry, supplied and installed the company’s plants and equipments with an installed capacity output of 60,000 tons of Iron rods per annum, working three shifts of eight hours per shift or 20,000 tons working only per shift. The range of outputs includes 6.5mm, 9mm, 10mm, 12mm, 16mm, 18mm, and 25mm reinforced iron rods and coils, C-Type, and H-Type.
Note: The Company was thereby starved of critical operating funds for a long period, which eventually led to its cessation of operations in 2005. It has remained shut since then except for regular routine maintenance.
The company “BAO YAO FUTURELEX IRON AND STEEL CO. LTD” is hereby offer for sale with the asking price of $50,000,000 {N10 Billions naira} negotiable.
Interested buyers needed!!
Call Gbenga on +2348076975153