{"id":3278,"date":"2020-10-20T01:31:00","date_gmt":"2020-10-20T01:31:00","guid":{"rendered":"https:\/\/zhishangsteel.com\/?p=3278"},"modified":"2021-11-19T09:12:09","modified_gmt":"2021-11-19T09:12:09","slug":"nigerias-1-5-billion-steel-plant-to-be-completed-with-an-annual-capacity-of-1-million-tons-of-steel-ending-steel-imports","status":"publish","type":"post","link":"https:\/\/baowusteelcompany.com\/nigerias-1-5-billion-steel-plant-to-be-completed-with-an-annual-capacity-of-1-million-tons-of-steel-ending-steel-imports.html","title":{"rendered":"Nigeria&#8217;S $1.5 Billion Steel Plant To Be Completed, With An Annual Capacity Of 1 Million Tons Of Steel, Ending Steel Imports"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3278\" class=\"elementor elementor-3278\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7feb80b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7feb80b4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4c680f2\" data-id=\"4c680f2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2a4b2333 elementor-widget elementor-widget-heading\" data-id=\"2a4b2333\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Nigeria'S $1.5 Billion Steel Plant To Be Completed, With An Annual Capacity Of 1 Million Tons Of Steel, Ending Steel Imports<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46f1087c elementor-widget elementor-widget-post-info\" data-id=\"46f1087c\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-c6921fe elementor-inline-item\" itemprop=\"author\">\n\t\t\t\t\t\t<a href=\"https:\/\/baowusteelcompany.com\/author\/infostainlesteel-cn-com\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-user-circle\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-author\">\n\t\t\t\t\t\t\t\t\t\tChina BaoWu Steel\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-4120b71 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t<a href=\"https:\/\/baowusteelcompany.com\/2020\/10\/20\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-calendar\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\tOctober 20, 2020\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-f64ceae elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-clock\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-time\">\n\t\t\t\t\t\t\t\t\t\t1:31 am\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-d6026ac elementor-inline-item\" itemprop=\"commentCount\">\n\t\t\t\t\t\t<a href=\"https:\/\/baowusteelcompany.com\/nigerias-1-5-billion-steel-plant-to-be-completed-with-an-annual-capacity-of-1-million-tons-of-steel-ending-steel-imports.html#respond\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-comment-dots\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-comments\">\n\t\t\t\t\t\t\t\t\t\tNo Comments\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b9ba917 elementor-widget elementor-widget-heading\" data-id=\"b9ba917\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">On Saturday, Nigeria's Minister of Finance, Budget and National Planning, Zainab Ahmed, said during a visit to Natural Resources and Mines of Africa<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-566fc6a4 elementor-widget elementor-widget-text-editor\" data-id=\"566fc6a4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tThe $1.5 billion steel plant in Kaduna State is nearing completion and will produce 1 million tons of steel annually, which will help end the country&#8217;s steel imports.<\/br>\n\nThe steel plant is an investment by African Industries Group Inc.<\/br>\n\nWe are interested in attracting various industries to Nigeria,&#8221; Ahmed said. This is because the lack of high-quality steel is one of the major obstacles to industrialization. So, with this project, we are now sure that we can attract the automotive industry from all over the world into Nigeria to produce cars in Nigeria for Nigerians as well as the region.&#8221;<\/br>\n\nAhmed noted that the company will be the first to produce steel in Nigeria, which will be used in industry, helping the country to save foreign exchange while accelerating the industrialization process.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3bee2dc9 elementor-widget elementor-widget-image\" data-id=\"3bee2dc9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"600\" src=\"https:\/\/baowusteelcompany.com\/wp-content\/uploads\/2020\/10\/5.jpg\" class=\"attachment-large size-large wp-image-3319\" alt=\"Nigeria&#039;S $1.5 Billion Steel Plant To Be Completed, With An Annual Capacity Of 1 Million Tons Of Steel, Ending Steel Imports\" srcset=\"https:\/\/baowusteelcompany.com\/wp-content\/uploads\/2020\/10\/5.jpg 800w, https:\/\/baowusteelcompany.com\/wp-content\/uploads\/2020\/10\/5-300x225.jpg 300w, https:\/\/baowusteelcompany.com\/wp-content\/uploads\/2020\/10\/5-768x576.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f274cc7 elementor-widget elementor-widget-text-editor\" data-id=\"4f274cc7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tAlok Gupta, managing director of African Industries Group, revealed that the company will mine iron ore to produce reduced iron directly, which will allow the company to produce better quality steel more efficiently.<\/br>\n\nGupta said: &#8220;In the long run, this investment will significantly increase domestic steel production. We will be able to produce more than 1 million tons per year. We are proud to be part of the coming steel revolution in Nigeria. With an investment of over $1.5 billion, we hope that the anticipated steel revolution will have a multiplier effect on the Nigerian economy.&#8221;<\/br>\n\nIn January 2020, Gupta announced that it was nearing completion of the first phase of construction of its African Natural Resources&#8217; Kagarko mine, which is located in Nigeria and is scheduled to mine iron ore by the end of 2020. The Igbaja project, in which the company has a wholly owned stake, has iron ore reserves of 488 million tons. The project will generate more than 3,000 jobs and is expected to produce 5 million tons per year.<\/br>\n\nThe Nigerian government had invested $6 billion in the construction of the Ajaokuta steel plant, which has been under construction since 1967 and has been stalled between 95 and 98 percent completion since 1994, but has yet to produce a single piece of steel.<\/br>\n\nAjaokuta Steel had said in January that the African Export-Import Bank (Afreximbank) and the Russian Export Centre (Russian Export Centre) would provide the $1.5 billion needed to complete the project. The project is one of Russia&#8217;s largest industrial ventures, covering 24,000 hectares, but no significant progress has been reported since then.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Nigeria&#8217;S $1.5 Billion Steel Plant To Be Completed, With An Annual Capacity Of 1 Million Tons Of Steel, Ending Steel Imports On Saturday, Nigeria&#8217;s Minister of<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":3279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[20],"tags":[],"class_list":["post-3278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-idustry-news"],"_links":{"self":[{"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/posts\/3278"}],"collection":[{"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/comments?post=3278"}],"version-history":[{"count":28,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/posts\/3278\/revisions"}],"predecessor-version":[{"id":4724,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/posts\/3278\/revisions\/4724"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/media\/3279"}],"wp:attachment":[{"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/media?parent=3278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/categories?post=3278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baowusteelcompany.com\/wp-json\/wp\/v2\/tags?post=3278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}