Premium Steel & Mines Ltd, (PSML) the state of the art steel manufacturing company located at Ovwian-Aladja, Delta state, will boost the economy of the country when it finally goes into full scale production, a chieftain of the People’s Democratic Party (PDP), Chief Sunny Onuesoke, has said.
Onuesoke who spoke in Warri on Monday when the Association of Scrap Dealers in Nigeria (Delta state chapter) paid him a courtesy visit, said PSML will soon take steel production in Nigeria to a higher level.
He said the reason why the steel company has not been able to go into full scale production since they took over the company from the former Global infrastructure holdings company (GSHL) was because all the facilities were vandalized and abandoned for several years.
He said PSML is working day and night to ensure that the vital components of the company that were vandalized were replaced, adding that soon the company will start full scale production.
He urged the scrap dealers to begin to intensify massive collection of scraps that will be used in the steel company, noting that soon the business environment around the steel company will come alive.
He said the steel company will meet the target of more than 50 percent domestic steel requirement, which are currently being met through imports.
“PSML came after the company was run aground and has been moribund for almost six years. They came at a time when the whole place was not working.
“They came with a noble vision of turning the place around but people have been complaining that they have been delaying. But as an insider who knows about the operation of the company I can categorically tell you that they are putting the place together.
“I have been an advocate of the struggle to resuscitate the Steel company to life when AMCOM was planning to sell the asset. Today we are lucky to have Premium Steel & Mines Ltd, one of the fastest growing steel companies in the world, in Delta State These people are a name to be reckoned with when it comes to steel production in the world.
“When I also saw the level of what they are doing in cleanings the yards and fixings some damaged parts the thing that were destroyed and stolen, I was overjoyed with gladness. They have been spending a lot of money to put some of these things in place, yet some people are saying that they are slow. From what I have seen so far, full production will commence soon,” Onuesoke said.
Continuing Onuesoke said, “The company is working vigorously to ensure that they make Delta state the number one steel producing state in Africa. Premium Steel company is going to take this country to Eldorado. There presence here will turn around the economy of Delta state. They are going to shoot up Nigeria’s manufacturing steel output.
“I am passionate about steel production because steel is the bedrock of any nation. Any nation that does not focus on steel manufacturing and production is doomed for life.
“If the former company, GHIL, had maintained its production rate, we would have been exporting steel in this country. The foundry unit of DSC then was one of the best in the world. We would have been producing engine blocks for now. I am passionate about this project because I am a developmental advocate.”
Earlier, Chairman of the south south chapter of Scrap Dealers Association of Nigeria Mr. Samuel Edafe, said they were at the office of Chief Onuesoke because of the passion and the contributions he made in making sure the steel company comes to operations again in Delta state.
Edafe said with the assurance given to them by Chief Onuesoke, they cannot wait to begin to enjoy the gains that will come their way when the company starts full operations.