Home Business Ajaokuta Steel Co. not moribund – Sole Administrato

Ajaokuta Steel Co. not moribund – Sole Administrato

by Business News Report

The Ajaokuta Steel Company Ltd. (ASCL), in Kogi, is not moribund, the Sole Administrator of the firm, Mr Joseph Isah, has said. Isah told the News Agency of Nigeria (NAN) in Ajaokuta on Thursday that the perception in some quarters that the company was moribund was based on “ misinformation and lack of knowledge about steel production”. He said although the company had been out of production for years, its technical readiness that had already been achieved had not diminished.
He also said that preservation of the company’s equipment was constantly being undertaken, insisting that the facilities were largely intact and in good working condition.
“Ajaokuta Steel Plant equipment and facilities are robust, rugged and designed with 25 per cent safety factor. Similar plants in Russia and Ukraine have been in operation for over 100 years,’’ Isah, an engineer, said. He also said that the company had signed a Memorandum of Understanding (MoU) with REPROM Company Ltd. which led to the renovation of the Light Section Mill.
The sole administrator said that the MoU had also led to the ongoing complete rehabilitation of the company’s Thermal Power Plant to enable it generate power at its rated capacity of 110 megawatts. He said when fully rehabilitated, the power plant would give the company the opportunity and courage to put other completed units of the steel plant into operation.


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