Kaduna steel plant in Nigeria, a part of African Natural Resources and Mines, is set to produce 1.5mn mt steel annually as it nears completion, according to Nigerian government after Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, inspected the plant.
African Natural Resources and Mines is a subsidiary of African Industries Group (AIG).
The development would revive Nigeria’s steel industry, curb the import of steel and strengthen its foreign exchange, and is likely to attract foreign investors, specially auto companies.
The company would mine iron and ore to produce Direct Reduced Iron (DRI) and efficiently produce high grade steel, said Alok Gupta, Managing Director of AIG.