Nigeria’s Minister of Steel Development, Prince Shuaibu Audu, has engaged in discussions with a representative from the Indian company Jindal Steel, Mr. Mukesh Sharma, to plan the establishment of a world-class steel plant in Nigeria. The meeting is a result of an agreement reached between President Bola Ahmed Tinubu and Jindal Steel during the G-20 summit.
President Tinubu secured a Steel Investment Deal with the Indian company on the sidelines of the G-20 Summit in September 2023 in New Delhi, India. Discussions are ongoing with relevant government agencies to determine the best location for establishing the Indian company for the construction of the steel plant.
The minister expressed gratitude to Jindal Group for expressing interest in investing around $5 million in Nigeria. Mukesh Sharma, the Jindal Steel representative, mentioned that the group aims to build a world-class steel plant with a capacity of about five million tonnes, with plans to commence operations in the next few years, provided the right commitments are made.
He added that once operational, the steel plant would not only cater to the Nigerian market but also serve the entire West Africa, Central Africa, and European markets. In his words, “Steel Plant once running, would not only serve the Nigerian market but the entire West Africa, Central Africa, and European markets.”