Nigeria-India $1bn Steel Industry Development Deal
One of 10,000+ projects Taiyo tracks in Nigeria.
Source: Businessday NG
Nigeria signed a $1 billion memorandum of understanding with India's Rashmi Metaliks Group to revive and develop Nigeria's steel industry. The deal aims to boost steel production, industrialization, job creation, and foreign exchange savings, with a target of producing 10 million tonnes of crude steel annually by 2030. The agreement follows a tour of Rashmi Metaliks' steel plant in Kolkata and ref
- Status
- Closed
- Sector
- Steel, Manufacturing (Industrial), Government
- Location
- Kolkata, Nigeria
- Updated
- 22 Jul 2026
- Source
- Businessday NG
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Project Information
Participants
| Not available for this record. |
Status
Original status | awarded |
Taiyo status | Closed |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Nigeria signed a $1 billion memorandum of understanding with India's Rashmi Metaliks Group to revive and develop Nigeria's steel industry. The deal aims to boost steel production, industrialization, job creation, and foreign exchange savings, with a target of producing 10 million tonnes of crude steel annually by 2030. The agreement follows a tour of Rashmi Metaliks' steel plant in Kolkata and reflects growing investor confidence in Nigeria's steel sector under recent economic reforms. |
Original sector | Industrial Development |
Budget |
Location
Country | Nigeria |
City | Kolkata |
Source
Source | Businessday NG |
URL |
More Details
Record type | Project |
Sector | Steel, Manufacturing (Industrial), Government |
Article published date | 2026-04-17 |
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