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Chinese company plans steel plant for Oyo

24 November 2015, 15:06Augustine Osayande

Abuja - Chinese company, HBIS Tanshan Group, has proposed the establishment of a 3-million metric tonne steel plant in Oyo State.

The group disclosed this at a meeting with the state government officials, represented by the State Deputy Governor, Moses Alake-Adeyemo, and other top government officials were also present. One of the directors, Zhao Lishu, and the current Special Adviser to the Minister for Steel in China, Gu Lin, led the Chinese delegation.

The HBIS delegation from China was led by Alake-Adeyemo assured the company the state was one of the largest in Nigeria with the largest land mass. Oyo is the 14th largest of the 36 states.

He said proposed partnership with the HBIS group was a strategic one.

Also Read: Police warn Oyo State kidnapping gangs

“We cannot quantify the merits of this proposed partnership between HBIS and Oyo state. This partnership will definitely increase Oyo state’s IGR, employment, investment etc. Oyo state is prepared to partner with HBIS in establishing the 3 Million MT Steel Plant. For any country to develop, iron and still will be core to their development,” Alake-Adeyemo said.

The Chinese HBIS Group Han-Steel was established in 1958. It has developed into one important high-quality plate and strip production base in China after over half a century of hard work and has comprehensively possessed an annual steel production capacity of 10 million tonnes.

It has total assets of 61,8 billion Yuan (US$970 million) and annual sales revenues of more than 35 billion Yuan. – CAJ News

- CAJ News


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