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Ajaokuta Steel Company To Gulp $625Million Despite Initial Funds

The General Manager, Engineering Services of Ajaokuta Steel Company, Babajide Suru, says another $652million would be required to complete the project.

Suru also disclosed that about $6billion has already been sunk into the project, which puts it at 95 per cent completion.

He disclosed this while briefing Finance Correspondents and Business Editors at the weekend, when they toured the complex in Ajaokuta, Kogi State.

He explained that it could create no fewer than 10,000 direct and over 500,000 indirect jobs in its first phase, when fully operational.



Israel Ahmadu
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