Long term prospects, page-18

Agreethat comparing KFE with SDL is apples and pears, especially comparing marketcap and size of enterprise.
To me, KFE is the canary in the coal mine, their performance indicateshow local market climate for steel is developing

SDL is a megaproject scale of enterprise, requiring massive frontfunding, uncomparable how a company like KFE is intended to grow moreorganically over time.

Ironically, another megaproject of Dangote is also taking longer than expected, dueto difficulties of importing steel.
https://constructionreviewonline.com/2019/08/completion-date-for-africas-largest-oil-refinery-shifted/
This validates two things; steel demand is there, and that there is a risk thatprojects in Africa take more time...

Wouldn't be surprised if Dangote will build a big steelmill once his refinery is up and running; he already made the deepestseaport in the region for his refinery and the business model behind hisconglomerate is to supply Nigeria/Africa with locally produced productsinstead of importing them.

Its a good development to see African tycoons like Dangote, they will beultimately the nemesis of the government vultures who have inhibiteddevelopment for their personal gain. If Dangote will do well, then I have good hopes for SDL.