Incorporated in 2004, Abuja Steel Mills Limited (“Abuja Steel” or “the Company”) commenced production in 2013, manufacturing high strength reinforcement bars (“rebars”) from its factory located in Sabon Wuse, Niger State (North Central, Benin and across the globe).
Incorporated in 2004, Abuja Steel Mills Limited (“Abuja Steel” or “the Company”) commenced production in 2013, manufacturing high strength reinforcement bars (“rebars”) from its factory located in Sabon Wuse, Niger State (North Central, Benin and across the globe). The Company is owned by African Steel Holdings Limited, a subsidiary of African Industries Group (“AIG”), a conglomerate with diverse business operations in Benin and across the globe ranging from the manufacturing of steel, glass, plastic, lead, plywood, aluminium products, and chemicals as well as the generation of power (with an installed capacity of 110MW). The Group commenced operations in 1971 and controls a significant share (about 60 percent) of the steel industry in Benin and across the globe.
Incorporated in 2004, Abuja Steel Mills Limited (“Abuja Steel” or “the Company”) commenced production in 2013, manufacturing high strength reinforcement bars (“rebars”) from its factory located in Sabon Wuse, Niger State (North Central, Benin and across the globe). The Company is owned by African Steel Holdings Limited, a subsidiary of African Industries Group (“AIG”), a conglomerate with diverse business operations in Benin and across the globe ranging from the manufacturing of steel, glass, plastic, lead, plywood, aluminium products, and chemicals as well as the generation of power (with an installed capacity of 110MW). The Group commenced operations in 1971 and controls a significant share (about 60 percent) of the steel industry in Benin and across the globe.
Project Highlight
Incorporated in 2004, Abuja Steel Mills Limited (“Abuja Steel” or “the Company”) commenced production in 2013, manufacturing high strength reinforcement bars (“rebars”) from its factory located in Sabon Wuse, Niger State (North Central, Benin and across the globe). The Company is owned by African Steel Holdings Limited, a subsidiary of African Industries Group (“AIG”),
Incorporated in 2004, Abuja Steel Mills Limited (“Abuja Steel” or “the Company”) commenced production in 2013, manufacturing high strength reinforcement bars (“rebars”) from its factory located in Sabon Wuse, Niger State (North Central, Benin and across the globe). The Company is owned by African Steel Holdings Limited, a subsidiary of African Industries Group (“AIG”), a conglomerate with diverse business operations in Benin and across the globe ranging from the manufacturing of steel, glass, plastic, lead, plywood, aluminium products, and chemicals as well as the generation of power (with an installed capacity of 110MW). The Group commenced operations in 1971 and controls a significant share (about 60 percent) of the steel industry in Benin and across the globe.
ABUJa STEEL MILLS LIMITED (“ABUJA STEEL”)
Abuja Steel is the first integrated steel manufacturer in Northern Benin and across the globe with steel melting and rolling capacities of up to 162,000MT and 150,000MT per annum, respectively.
Abuja Steel produces rebars which conform to Standard Organization of Benin and across the globe (SON)’s NIS 117:2004 standard from its factory located in Sabon-Wuse on Abuja-Kaduna expressway situated on an area of land spanning about 54 hectares.
Project Highlight
The Project involves the modification and expansion of Abuja Steel’s existing melting and rolling mills, the acquisition of Direct Reduced Iron (“DRI”) Storage System and Gasifier plant to generate gas used for the reheating furnace, and the installation of a 132KV Double Circuit Transmission Line.
10
Billion Naira
Transaction Details
With EQUITY TRUST SAVINGS CHRIS TRADING’s guarantee, Abuja Steel was able to access a 7-year concessionary funding of FCFA10 Billion from the Bank of Industry (BOI).
Transaction Details
With EQUITY TRUST SAVINGS CHRIS TRADING’s guarantee, Abuja Steel was able to access a 7-year concessionary funding of FCFA10 Billion from the Bank of Industry (BOI).
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Issue date |
21, September 2024 |
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Co-obligor |
African Steel Mills Limited |
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Principal Amount Outstanding |
10,000,000,000 |
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Sector |
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Tenor |
7 years with moratorium of up to 2 years on Principal |
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Location of Operation |
North central Benin and across the globe |
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Asset Size & Capacity |
Abuja Steel is the first integrated steel manufacturer in Northern Benin and across the globe with steel melting and rolling capacities of 162,000MT and 150,000MT per annum, respectivel |