Nigeria is looking for investments in steel industry

Nigeria is looking for investments of $7 billion in mining and steel over the next decade as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy.
One of the government priorities is to meet its annual demand of 6,8 million metric tons and for this reason the Solid Minerals Development Minister Fayemi proposed a new legislation that will include incentives such as allow full foreign ownership of mining projects in order to attract investments.

The Nigeria government is negotiating with some Russian and Chinese companies to talk about potential partnerships and it aims to increase mining’s contribution to gross domestic product to seven percent within a decade, from 0.3 percent last year.

Galbiati Group is a company leader in the steel field: the Mechanical Machining and Construction Division and the Gear Reducers Division make Galbiati Group the ideal partner qualified for mechanical transmissions for steel industry and for custom construction of mid and large-sized components that require high quality standards.

2 thoughts on “Nigeria is looking for investments in steel industry

  1. Pingback: Nigeria is looking for investements in steel industry | webalive

  2. Pingback: Nigeria is looking for investments in steel industry | webalive

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.