The Sole Administrator of Ajaokuta Steel Company Limited, Isah Enebere, yesterday revealed that one of the 43 plants installed in the complex was capable of producing 600,000 tonnes of steel annually and that the quantity could cover 10,000 kilometres of rail network across the country. Enebere, who disclosed this at a public hearing organised by the Joint Committees of the Senate and House of Representatives on Privatisation, explained that the company requires N80 billion to operate the plant at full capacity. He further explained that the firm would present a business plan to the Federal Government to be included in the Memorandum of Understanding (MoU) recently signed with the Chinese government on the construction of two major rail tracks across the country. He added that the light mill section of the plant, which would require N43 billion to become functional, could produce 400,000 tonnes of steel yearly at full capacity. He also noted that with an investment of the N43 billi
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