3 October 2003
A transitional management committee has been constituted for the Ajaokuta Steel Complex (ASC), reports the News Agency of Nigeria (NAN).
The move came shortly before the plant's full take-over by its new handlers, U.S.-based Solgas Energy.
The committee, chaired by the acting managing director of the complex, Mr Olufunsho Elewa, has five coordinators handling various sub-sectors.
The sub-sectors include production, engineering services, Steel township, management services and metallurgical training.
Solgas vice chairman, Seun Oyefeso, told NAN in Abuja yesterday that the committee would determine the state of facilities in all departments.
The committee is also expected to draw a line between the report of the 2000 technical audit submitted to the government and what was actually on ground.
Meanwhile, former managing director of ASC, Dr Tom Miachi, has advised sceptics to "give Solgas the benefit of doubt".
He said: "It is okay for them to have their fears but I will suggest they give Solgas a chance to prove itself."
NAN recalls that the federal government in June signed a concessionary agreement with Solgas, by which the firm is expected to invest 3.6 billion dollars to complete and operate the ASC.
Under the agreement, Solgas will operate ASC for 10 years, during which it is expected to recoup its investments and hand the firm back to the government.
A clause in the deal, however, allows Solgas to continue to operate the plant, if after 10 years it has not fully recouped its investments.
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