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FG: Why Ajaokuta steel company is not yet functioning

FG: Why Ajaokuta steel company is not yet functioning
January 15
11:00 2019
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Abubakar Bwari, the minister of state, mines and steel development, says the Ajaokuta Steel Company is not yet functioning because the infrastructure required such as rail, dredging of Lokoja and Warri ports are yet to be completed.

He made this known on Monday while giving a three-year account of stewardship (2016-2018) on Monday in Abuja.

“Ajaokuta is 98% completed. Everything is in place and we have our workers there that are maintaining the place. The remaining two percent has to do with external infrastructure. We need waterways. We need viable ports and so on. Government is putting all these things in place now,” he said.

“Even if it was completed 100% it would not be able to operate. If we are to bring in all the raw materials required from Itakpe, like the iron concentrate required, you need 750 trucks travelling each day to feed Ajaokuta. Imagine 750 trucks on Ajaokuta-Itakpe road daily. The road will be bad in one week.

“The policy of the government is that it will not release Ajaokuta steel just like that; what we are planning to do is to regulate and create enabling environment for the company to strive.”

According to Bwari, 11 companies have indicated interest to run the company.

Speaking on Delta steel company, the junior minister said thecompany has been privatised.

“Delta steel is now owned by Premium steel, It is no longer in the hands of government because it has been privatised, it has commenced operation but on a small scale level.”

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