Federal Government Signs $1.3bn Delta Steel Plant Deal, Eyes 20,000 Jobs

The federal government has signed an agreement with Premium Steel and Mines Limited (PSML) to revive the former Delta Steel Company in Ovwian-Aladja, Delta State, in a project expected to attract more than $1.3 billion in investment and create over 20,000 jobs.
The deal is expected to facilitate the rehabilitation and modernisation of the steel plant, restore integrated steel production and strengthen Nigeria’s domestic steel value chain.
According to a statement on Friday by the Head of Press and Public Relations, Federal Ministry of Steel Development, Salamatu Jibaniya, PSML plans to invest more than $1.3 billion in raw material exploration and exploitation, plant rehabilitation and...