The Federal Government has said it will sell the Ajaokuta Steel Complex to a private sector operator with the capacity to turn around the fortunes of the company.
The Minister of Mines and Steel Development, Dr. Kayode Fayemi, made this known during a visit to the Abuja Steel Mill.
According to a statement issued on Tuesday by his Special Assistant on Media, Mr. Olayinka Oyebode, Fayemi said that the government was putting a lot in place to ensure that the Ajaokuta Steel Complex got back to life, stating that the company would no longer be run as a public concern.
However, he did not disclose when the Federal Government would invite bids from prospective core investors, the minister listed some of the criteria to be met by anyone willing to invest in the steel complex.
He added that experts with proven track records and the required financial capability would be encouraged to key into the scheme through a competitive bidding process that would be transparent.