Trading

Kaduna’s $600m steel plant to create 3,000 jobs

The African Natural Resources and Mines Limited, a steel plant in Kagarko, Kaduna, is expected to create 3,000 jobs for Nigerians when it becomes fully operational.

Group Managing Director of the company, Alok Gupta disclosed.

While inspecting the ongoing work at the plant, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo assured that the Federal Government was committed to assisting serious industrialists with the intent of investing in Nigeria.

We as a government are desirous and willing to assist all serious industrialists, all people that are serious about investing in Nigeria, we are here for them.

We will within the laws of Nigeria do everything possible to assist to make sure that they are able to bring everything on track, he said.

Adebayo explained that the project was of utmost importance as it would provide employment opportunities for many Nigerians when it becomes fully operational.

He also said that the $600 million project was the kind of investment the Federal Government was looking for as it would help in actualizing its plan to lift 100 million Nigerians out of poverty in 10 years.

Gupta explained that the first phase of the steel plant would be inaugurated in December 2020, calling on the Government to provide adequate support in this crucial stage.

Most importantly, we will employ over 3,000 people and benefit the lives of many more. Our $600m investment will be the largest non-oil FDI in the country and should encourage other mining industries to explore similar projects in the future.

The project will also bring in significant savings in foreign exchange by import substitution and add to foreign exchange reserves when our mining project starts to export Direct Reduced Iron to other West African countries, said Gupta.

Source: Voice of Nigeria