BUA International Limited wins Delta Steel tender

BUA International Limited wins Delta Steel tender

According to recent news in the market, BUA International Limited, a Nigerian trading company, has won the tender held for the sale of 80% stake in Delta Steel Company (DSC). The offer of BUA International Limited was NGN (Nigerian Nairas) 2.7 billion ($20.5 million). It is stated that BUA International was in fact not the preferred bidder in the tender. The other bidders were NBTC and Osaka Steels Limited. Moreover, initially Iscor, Global Infrastructure Limited of UK and Intrinsic Resources LLC also of UK were also interested in the tender none of them submitted any bids. BUA has technical and management partnership with Turkish firm Ferro Trade International. Ferro Trade works with Turkish longs producer Kardemir to support BUA International.