Ispat to run Ajaokuta steel plant of Nigeria
According to recent news in the market, Ispat Industries Ltd has recently acquired management and operational control of Nigeria-based Ajaokuta Steel Plant for ten years. The takeover has been materialized through UK-based Global Infrastructure Holdings Ltd (GIHL). The Nigerian plant is the fourth company over which Ispat has taken control of the management. The other companies over which Ispat controls the management are in Bulgaria, Libya and Philippines. Ajaokuta Steel Plant, with a sinter plant, coke oven and an electric arc furnace, has an annual production capacity of 2.2 million tons.