Photo caption from right: Chief Immanuel Abel Edijala, Chairman/CEO of Chart & Capstone and Lou Xiangdong, Chief of Sinomach-HE’s Chengdu Representative Office; signing a financial and technical cooperation agreement for the development of a Steel Production Plant in Nigeria, operating in Kogi and Delta States; witnessed by Joseph Tegbe, DG, Nigeria-China Strategic Partnership (NCSP), and Dr. Ilesanmi Abiodun Bakare, Acting Consul General of Nigeria, in Shanghai, recently.
By Charles Okonji
The Nigerian Steel Industry has received another live wire, which will boost the productivity of the sector.
This strategic move towards boosting the manufacturing sub-sector was formalised when Chart & Capstone Integrated Ltd and China’s Sinomach-HE signed a financial and technical cooperation agreement for the development of a Steel Production Plant in Nigeria, operating in Kogi and Delta States valued at $2.5billion
The signing ceremony took place on April 14 at Sinomach’s headquarters in Deyang, Sichuan Province, China.
Chief Immanuel Abel Edijala, Chairman/CEO of Chart & Capstone, and Lou Xiangdong, Chief of Sinomach-HE’s Chengdu Representative Office, signed the agreement.
The ceremony was witnessed by the Director General of the Nigeria-China Strategic Partnership, Joseph Tegbe, and Dr. Ilesanmi Abiodun Bakare, Acting Consul General of Nigeria in Shanghai.
The project aims at processing Nigeria’s iron ore into finished steel products locally, reducing the country’s dependence on imports and supporting industrial growth.
Financial close and groundbreaking is projected for the fourth quarter of 2025, with equipment installation starting in early 2026.
The partnership reflects growing economic cooperation between Nigeria and China, which is expected to create thousands of jobs, drive infrastructure development, promote long-term economic advancement among others.
