KAM Steel Integrated Company Limited on Monday acquired $158 million (N60billion) steel plants and other assets in Sagamu, Ogun State, pledging to create 10,000 directs jobs in the coming months.
The steel plants and assets located at Igbafa village in Sagamu, Sagamu Local Government, until the acquisition, belonged to the Standard Metallurgical Company Limited (SMC).
The transfer of ownership to KAM Steel, an integrated company under the KAM Holding, an indigenous iron and steel products manufacturing company, was witnessed by major stakeholders in the industry.
The Chairperson of KAM Holding, Alhaja Bolanle Yusuf, said the acquisition was part of the firm plan to increase its capacities and reposition the country as a self-sufficient nation in steel and allied products…
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