The Ukrainian Ambassador to Nigeria, Valeriy Aleksandruk, has disclosed that his country is ready to invest $1 billion into the Ajaokuta Steel Company in order to revive the plant, the Bureau of Public Enterprises (BPE) said in a statement yesterday. The Ambassador, who made this known in Abuja on Wednesday, during a courtesy call on the acting director-general of the Bureau of Public Enterprises (BPE), Dr Vincent Onome Akpotaire, said that the Ukrainian company that built the plant -Tiajpromexport (TPE) – has presented a proposal to the federal government to that effect. He said that the steel complex has a lot of potential which his country want to take advantage of; and that already, meetings have been held with relevant stakeholders in Nigeria for the realisation of the planned takeover of the plant. Aleksandruk said that Ukraine has a very good relationship with Nigeria, especially with economic and trade investments, while noting that there is a big Nigerian community in Ukraine. The Ambassador further noted that Ukraine is ready to “open a new page in its relationship with Nigeria” and pledged to assist the bureau in its training needs to become a foremost privatisation agency in Africa. In his response, Akpotaire said that the bureau would review the proposals from the Ukrainian Government and the multinational financial services firm that would provide the $1 billion investment, Morgan Stanley, before taking the next steps. He added that the federal government is desirous to get the Ajaokuta Steel Company Limited and the Nigerian Iron Ore Mill Company (NIOMCO), Itakpe running. Akpotaire urged the Ukrainian Government to invest in other sectors of the Nigerian economy, especially in developing the downstream of the steel sector that would service several sectors, including the automobile. http://leadership.ng/news/523968/ukraine-revive-ajaokuta-steel-1bn

Dem Don buy am be dat

Nice one.

I hope this is fvking true.

Since after the biafran war, this "reviving of ajeokuta steal" has been the major outlet to steal money.

Ukraine or Russian company that built it? TPE is a Russian company

raker300:
Since after the biafran war, this "reviving of ajeokuta steal" has been the major outlet to steal money.

Epic

Ukraine or Ugwrain am nt just interested

One prays this is true, it will be a major victory after several failure in revamping the plant, one of the world largest steel plants

Ajaokuta and Itakpe to be revived? its all for good and for the boosting of the economy

Please they should come take the company for free. As long as they can get it working, it will benefit Nigeria immensely.

mankand:
Ukraine or Russian company that built it? TPE is a Russian company

Apparently, it was previously russian before the soviet split.

obailala:
Apparently, it was previously russian before the soviet split.

The company still belongs to Russia, here is a caption on the Russian embassy about the ajaokuta steel with TPE ready to come back to bring ajaokuta back to life.

Even at the moment Ukraine don't have 1 billion USD

I dont trust Vlamdir Putin......

There is more to this...

Amazing.....are the parts not archaic and moribund now

When is the cash coming?

Jonathan could not achieve this in five years as President and three years as Vice-President

raker300:
Since after the biafran war, this "reviving of ajeokuta steal" has been the major outlet to steal money.

This is how you people spread lies. The Civil War ended in 197 while the Ajaokuta Steel Company was built by Shagari in the early 1980's.

Whats in on IT

Keneking:
Amazing.....are the parts not archaic and moribund now

When is the cash coming?

Jonathan could not achieve this in five years as President and three years as Vice-President

You will do yourself a lot of good by keeping quiet than spewing thrash on what you don't know.

So educate yourself by visiting this profile for more infos on ASCL https://www.nairaland.com/cooljade

https://www.nairaland.com/2904963/ajaokuta-steel-time-break-deadly

Just keep the Mills rolling. This will go a long way in saving our forex

Another story.... DO it and tell us after. I wanna hear stories like, Ukraine has revived not to revive...

Now , Nobody will say anything ,