BPE in final arbitration talks to settle Ajaokuta Steel Mill with former management.
"Similarly, the BPE boss said the agency hopes to conclude arbitration initiated by Global Infrastructure Nigerian Limited, GINL, against the Federal Government in respect of the management contract in Ajaokuta Steel Company.
This, he said, would pave the way for the development of strategies for the privatisation of the company, along with the National Iron Ore Mining Company, NIOMCO."
Full article here http://www.premiumtimesng.com/business/157452-bpe-set-liquidate-nitelmtel-privatise-nigerias-four-refineries.html
If this works out then good chance Sinosteel or another Chinese trader can make a play for the steel mill as part of Federal Govt's privatization plan.
KFE Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)