According to Mr Serhii Khanenko Ukrainian Ambassador to Nigeria, investors from Ukraine are ready to inject about USD 2.6 billion to reactivate the Ajaokuta Steel Company.

Mr Khanenko made this known yesterday in Abuja when he led delegation of Ukraine investors to the Minister of Mines and Steel Development, Mr Arch Muhammad Musa Sada.

He said expressing hope that the project would be given to the Ukrainian government that “The purpose of their visit is to explore areas of partnership with the Nigerian government in the development of its solid mineral resources.”

Mr Sada said the Federal Government was poised to remove the bottlenecks in the privatisation of the steel industry. He said that, President Mr Goodluck Jonathan has given timelines on all outstanding issues affecting the nation’s steel industry to ensure that it is moved forward.

Mr Sada said Ajaokuta Steel Company and National Iron Ore Mining Company were being handled as integrated plants that must work together for optimum benefits.

He said that government was working to ensure that the interests of various stakeholders were represented to ensure that Nigeria’s steel industry was developed.

Source - Daily Trust

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