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Uche Usim, Abuja
Hopes of resuscitating the moribund $4.6 billion Ajaokuta Steel Complex Limited (ASCL) brightened on Wednesday, as the Federal Government said plans were in top gear to concession the asset to qualified investors.
In line with the plan, key stakeholders comprising the Chairman, House Committee on Steel, Abdullahi Ibrahim, the Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh and the Senior Special Assistant to the President on Infrastructure, Imeh Okon, recently visited the complex on a fact-finding mission, preparatory to its final concessioning.
Speaking during the visit, the BPE boss, Alex Okoh said the main objective was to ensure the country taps into the potential of the steel sector to transform the Nigerian economy. “Other objectives of the visit were to avail members the opportunity to physically inspect the complex in order to appreciate the quantum of investments made; meet with the management and obtain the management’s option(s) on the issues that affect the plant with the view to enriching the strategy to be adopted for resuscitating the complex.
We want to address the issues of the steel industry and rescue it from its current state, foremost among which is the completion and operations of Ajaokuta Steel Complex Limited (ASCL).
Government is desirous to achieve this through a robust framework to drive and guide the process for the revitalisation of ASCL and the steel industry in general.” He explained.
At the meeting with the management of the ASCL, Okoh emphasized the willingness of President Muhammadu Buhari’s administration to resolve the on-going legal tussle between FGN and Global Infrastructure Nigeria Limited (GINL).
He added that the FGN was desirous to see that ASCL was completed and made operational, and thus solicited the support of the National Assembly, management of ASCL and other stakeholders in achieving the goal under this administration.
A physical tour of the enterprise to some of the major plants, installations and facilities in the complex was also carried out by the team. Some of the plants and other facilities visited included, steel making plant (blast furnace), light section mill, wire rod mill, medium section and structural mill, thermal power Plant, lime plant, machine/tools shop , water intake plant, rail tracks, road networks, among others.
The team aslo verified and confirmed the management’s claim that many of the machines in the respective units were in good condition and would only require minor repairs to operate effectively.
Additionally, the team observed that the status of the ASCL plant was not as dilapidated as assumed generally, but that the plant was rather in a reasonably operational state.
