Russia and Nigeria plan to sign a memorandum on jointly completing the construction of the Ajaokuta steel plant in the African country at the upcoming Russia-Africa Summit, Russian Export Center Director General Andrey Slepnev said in an interview with Sputnik
MOSCOW (Pakistan Point News / Sputnik - 21st October, 2019) Russia and Nigeria plan to sign a memorandum on jointly completing the construction of the Ajaokuta steel plant in the African country at the upcoming Russia-Africa Summit, Russian Export Center Director General Andrey Slepnev said in an interview with Sputnik.
Nigerian Ambassador to Russia Steve Davies Ugbah told Sputnik earlier in October that the countries were conducting relevant negotiations, stressing that Nigeria wanted Russia to help it finish the construction of the country's biggest steel plant, launched back in 1979.
"There are plans to sign an extremely important memorandum on cooperation for completing the construction of the Ajaokuta metallurgical complex. Our returning to this project will be emblematic, as the construction started back in the Soviet era. The plant has not been launched yet in general, regarding all its production areas. Meanwhile, the attempt to transfer concession over the plant to foreign investors has failed," Slepnev said.
The Afreximbank, the Nigerian Federal government, the government of Kogi state, and the Ajaokuta steel plant executives discussed cooperation on the matter earlier in 2019, on the sidelines of Afreximbank's annual meeting in Moscow, Slepnev added. After that, the talks continued in Nigeria, with support from the Russian embassy.
"The Russian side confirms its readiness to engage in plant engineering, reconstruction and putting into operation. All conditions are in place for successfully implementing the project. A significant amount of Russian equipment has been installed at the plant. Its commissioning with participation of Russian enterprises will produce a significant synergetic effect both for the Nigerian side and for Russian companies," Slepnev added.
The Russian resort city of Sochi will host the Russia-Africa Summit and business forum, co-chaired by Russia and Egypt, from October 23-24. The leaders of all the 54 African nations have been invited to the event, with more than 40 of them having already confirmed their attendance. The Rossiya Segodnya International Information Agency is an official media partner of the event.
