COMPANIES BID FOR AJAOKUTA STEEL COMPANY
Eleven companies have indicated interest to operate the troubled Ajaokuta Steel Company but the federal government was not yet ready to hand over the facilities.
Alhaji Abubakar Bwari, the Minister of State, Mines and Steel Development, announced while giving a three-year account of his stewardship (2016-2018) in Abuja.
According to him, the Federal Government is not ready to hand over the company now, as all infrastructure required to support its operations such as rail, dredging of Lokoja and Warri ports were yet to be completed.
He said the company would be handed over to a competent organisation with financial and technical capability, but preferably a Nigeria company, to manage the steel industry as soon as the infrastructure were completed.
“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.