The Managing Director of African Industries Group Company, Mr. Alok Gupta, yesterday said the company’s $600million Integrated Steel Plant would be Nigeria’s biggest non-oil Foreign Direct Investment .
“The DRI will be used to make steel billets and will avoid our need to import the same. We are also building a 36 MW Power Plant from the waste heat recovered in the process, which will be partly used for captive consumption. “Our project is not only important for Nigeria or for Nigeria in the African context but for Nigeria in the World context. It complements Nigeria’s desire to be self-sustaining and become an independent steel producer not dependent on imports.
“Now, let me focus your attention to African Natural Resources and Mines Limited . Over the last six years, we have completed several milestones including an Internationally Accepted Resource Estimate, feasibility studies from various consultants in the world including Canada, UK, South Africa, India and China.
He said: “It is part of our mandate to encourage investment in mining and steel development which this group has started. My visit here is to encourage this investment and also to urge them to do this as quickly as possible to bring the obvious benefits, first to the community where it belongs. “The Managing Director of has spoken about power generation, this is one of the things we encourage because mining in itself consumes a lot of power.
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