Nigeria's Ajaokuta Steel completion to receive Russian ECA support

(Nairametrisc, Lagos, 2 November 2019) Recent reports are that the completion of Nigeria's long-abandoned Ajaokuta Steel Complex would be funded by the Russia's MetProm Group with funding from the Russian Export Centre.  Nairametrics understands that although massive plants and other gigantic equipment in the complex were idle and most had been overgrown with weeds, most of the facilities were still functional, and as such over the years, the problems facing the company had not prevented the workers from receiving salaries. The Ajaokuta Steel Complex was originally built by another Russian firm, TyazhPromExport (TPE), but in 2016 the Federal Government decided to jettison TPE because the company did not want to complete the steel mill. A rail line and functional seaport are still needed to ease the operation of the steel mill.

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