Dana Group’s $1.2B Investment will Boost Economy – Senate committee

The Chairman Senate Committee on Privatization, Senator Ben Murray Bruce has commended the Management of Dana Group for its massive contribution to the Nigerian economy and for transforming the old Katsina Steel Rolling Mill, despite the present economic challenges in the country.

The senator made this known to newsmen during his committee’s visit and tour of Dana Steel Limited – a subsidiary of the Dana Group of companies on Monday.

Senator Ben Bruce who was visibly impressed with the level of transformation at the steel rolling mill said: we are happy with the giant strides recorded by Dana Group in turning around the old Katsina Steel Rolling mill. The plant is massive and the level of work done already despite the present economic challenges is highly commendable.’’

''I believe with necessary legislation and support from the Federal Government, Dana Steel will be a big boost to the Nigerian economy and can help achieve self-sufficiency in the Mines and Steel industry.’’

Also speaking during the tour of the massive Steel Rolling Plant, the Managing Director/ Chief Executive Officer of Dana Group, Mr Jacky Hathiramani said Katsina Steel Rolling Mill was acquired in 2006 as part of Dana Group’s expansion drive across the country and our further investment in SMS plants for the production of billets using locally sourced materials have contributed greatly to the growth of the economy.

Speaking further Jacky said, ‘’Dana steel has the capacity to provide 4500 direct jobs and over 1.8 million indirect jobs. At the moment we are producing over 630,000 mt yearly and we are determined to surpass this immensely in the coming year.''

We appreciate the efforts of the Minister of Solid Minerals Development and we are committed to working with the Federal government to develop the sector to achieve self-sufficiency just as our distinguished senator rightly mentioned’’

Dana Steel is a subsidiary of a multibillion dollar conglomerate with interest in Aviation, Automobile, Steel, Plastic, Water, Chemical, Pharmaceutical, Real estate and Banking. The Group is reputed for its quality products and CSR activities in Nigeria.