Diezani Madueke ,the former Minister of Mines and Steel Development, yesterday said that the Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore Mining Company (NIOMCO) would be re-opened as soon as this year's appropriation bill is signed.
She further explained that the re-opening of both firms would depend on release of the N650million seed money.
Madueke who spoke in Abuja while handing over the ministry to the permanent secretary, Sheik Goni, also said:"We shall begin the rehabilitation of concentrate lines in NIOMCO and the two entities should kick off by next quarter."
She pointed out that the technical audit would be completed in the next few months.
The former minister who recounted her achievements at the ceremony recalled that it took alot to convince Acting President, Goodluck Jonathan to approve the re-opening of the firms.
She explained that she initiated and submitted to the Presidency, a report reflecting various business options for the re-opening of ASCL and NIOMCO. In addition, she arranged for the payment of 10-months salary arrears to the staff of both companies.
She said the ministry also commenced negotiation with the Federal Ministry of Finance for payment of outstanding pensions and terminal benefits of both entities, starting with a timeline for payment.
According to Madueke, the ministry under her tenure, led a major solicitation drive across Europe, Asia, North America, Middle East and Africa, which resulted in significant level of foreign direct investments in the solid minerals sub-sector which was directly instrumental in an unprecedented investor focus drive sponsored by the world's largest bank, the Industrial and Commercial Bank of China.
But she said the Mining Regulations National Metallurgical Training Centre, Onitsha Bill and the Airborne Geo-physical Survey, were still pending.
Re-opening of Ajaokuta, NIOMCO depends on 2010 budget, says Madueke (http://www.businessdayonline.com/index.php?option=com_content&view=article&id=9420:re-opening-of-ajaokuta-niomco-depends-on-2010-budget-says-madueke&catid=1:latest-news&Itemid=18)
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