The Ogun State Government has secured a $450 million investment from Stellar Steel Company Limited, a subsidiary of China’s Galaxy Group and RSIN Group, to establish a steel plant in the state. The facility, set to begin operations by mid-2026, will produce hot-rolled coil steel, iron steel doors, and gas cylinders, significantly reducing Nigeria’s reliance on imported steel.
Key Highlights:
– Investment: $450 million from Stellar Steel Company Limited
– Products: Hot-rolled coil steel, iron steel doors, and gas cylinders
– Location: Ogun State, Nigeria
– Timeline: Operations expected to commence by mid-2026
– Impact: Creation of jobs, boost to GDP, and reduction in steel imports
The Ogun State Government has pledged support for the project, including streamlined approval processes and incentives. This investment reinforces Ogun State’s position as Nigeria’s leading destination for industrial and manufacturing investments.
