Fed govt woos new core investor for Ajaokuta steel complex

The Federal Government, on Tuesday, said it was looking for a new core investor to activate the Ajaokuta Steel Complex in Kogi State.

Minister of Mines and Steel Development, Dr. Kayode Fayemi, who stated this at the ongoing 2nd Nigeria Mining Week, in Abuja, also disclosed that the Federal Government had resolved issues of ownership of the investment with Global Steel Holdings Limited.

He said the Federal Government, last week, appointed a Sole Administrator for the complex, as a prelude to the eventual engagement of a technically and financially competent investor.

He further raised the hope that the issues militating against the reactivation of the Aluminium Smelting Plant at Ikot Abasi in Akwa Ibom State would also be soon resolved.

The minister also described “all these as inherited problems for the present administration but since government is a continuum”, he assured of the present administration was committed to confronting them.

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