Delta Steel revival: FG signs deal, PSML to invest $1.3bn

The federal government has signed an agreement with Premium Steel and Mines Limited (PSML) to revive the moribund Delta Steel Company in Ovwian-Aladja, Delta State.
The agreement, signed on Wednesday, is expected to pave the way for the rehabilitation and full reactivation of the integrated steel plant, which has remained largely inactive since 2015.
PSML has committed more than $1.3 billion to the project, covering raw material exploration and exploitation, as well as the rehabilitation and modernisation of the steel plant.
The company is expected to restore the plant to its installed capacity of one million tonnes of liquid steel annually and commence commercial operations within ...