Nippon Steel Corp and Marubeni Itochu Steel Inc announced that they will invest USD 3 million each in a Nigerian steel manufacturer to meet emerging demand for steel in the nation and other West African countries.

The two Tokyo based companies will also supply hot rolled steel in coil as raw materials to Midland Rolling Mills Ltd, which manufactures and sells cold rolled steel sheets and coils in Nigeria.

The African steelmaker has installed the first cold rolling mill in Nigeria, with commercial production expected to start in January 2011.

(Sourced from Kyodo News)