Delta steel company latest news

Delta Steel Company is a leading steel producer in Nigeria, and here are some of the latest news and updates about the company:

Recent News

  1. Delta Steel Company Resumes Operations: After a prolonged shutdown, Delta Steel Company has resumed operations at its Aladja plant in Delta State, Nigeria. The company had been shut down since 2015 due to financial and operational challenges. (Source: Vanguard News)
  2. N1.2 Billion Investment in New Steel Production Line: Delta Steel Company has invested N1.2 billion in a new steel production line at its Aladja plant, which is expected to increase the company's production capacity by 50%. (Source: The Nation)
  3. Partnership with Chinese Firm: Delta Steel Company has partnered with a Chinese firm, China Steel Corporation, to improve its production capacity and technology. The partnership is expected to create jobs and stimulate economic growth in Nigeria. (Source: Leadership Newspaper)
  4. Efforts to Reduce Carbon Footprint: Delta Steel Company has announced plans to reduce its carbon footprint by investing in renewable energy and reducing waste. The company aims to become a more sustainable and environmentally friendly business. (Source: This Day Live)
  5. New Management Team: Delta Steel Company has appointed a new management team, led by a new Managing Director, to drive the company's growth and development. The new team has a wealth of experience in the steel industry and is expected to bring fresh ideas and perspectives to the company. (Source: BusinessDay)

Recent Developments

  1. Steel Production: Delta Steel Company has increased its steel production capacity to 1.2 million metric tons per annum, making it one of the largest steel producers in Nigeria. (Source: Nigerian Tribune)
  2. Export of Steel Products: The company has started exporting its steel products to other African countries, including Ghana, Côte d'Ivoire, and South Africa. (Source: Punch Newspaper)
  3. Investment in Research and Development: Delta Steel Company has invested in research and development to improve its steel production processes and develop new products. The company has established a research center at its Aladja plant to drive innovation and growth. (Source: The Guardian)

Challenges

  1. Competition from Imported Steel: Delta Steel Company faces competition from imported steel products, which can be cheaper and of higher quality than locally produced steel. (Source: BusinessDay)
  2. Power Outages: The company has been affected by frequent power outages, which have disrupted its operations and impacted its production capacity. (Source: Vanguard News)
  3. Economic Challenges: Delta Steel Company has been affected by the economic challenges facing Nigeria, including inflation, currency devaluation, and a decline in government spending. (Source: Leadership Newspaper)

Overall, Delta Steel Company is working to overcome its challenges and improve its operations to become a more competitive and sustainable business.