Resuscitation of DSC is on Course, Says Premium Steel

The Management of Premium Steel and Mines Limited, current owners of the former Delta Steel Company, Ovwian-Aladja, Delta State has assured that the resuscitation of the company was on course despite the many challenges before the current management, stressing that Premium Steel was determined to see the company fully reactivated and returned to her former glory and leadership position in the steel sector in Africa.

Speaking to newsmen in the company premises in Ovwian-Aladja, General Manager (Projects) of PSML, Engr. Alloysious Nsidinaya, expressed dismay at the reports that came out of the House of Representatives panel sitting in Abuja, stressing that the company holds the National Assembly as a critical institution in Nigeria and the host Udu community in high esteem, appealing for understanding and cooperation from all stakeholders so the company could grow.

He explained further that the company was doing everything within its power to revive the plant, extend her production capacity to other sectors that would continue to benefit the host community stressing that contrary to reports that only 20 staff are in the company, ‘’there are over 500 staff in the company with about 400 drawn from the host Udu community’’, he added.

Conducting newsmen round the company critical infrastructure so the media could have first hand information on efforts being made to reactivate the plant, Engr Nsidinaya disclosed that the major challenges militating against the rehabilitation efforts were the fluctuating state of the exchange rate which was affecting importation of billets for production of rods, disruption of power supply to the plant which was already being fixed with a new deal with the Transmission Company of Nigeria, TCN which will guarantee power supply from Sapele and Ughelli, and the activities of local vandals who invade the company premises at night to remove vital assets.

He disclosed further that besides that 500 staff on her payroll of the company, there are still another 700 in the non-core sector instead of just 20, as presented to the National Assembly panel.

At the Central Maintenance unit, Engr. Francis Nwokedi, Assistant General Manager, Central Mechanical Maintenance department disclosed that despite the challenges facing the company, Premium Steel was still into fabrication of sundry tools and equipment for companies like the Nigerian National Petroleum Corporation, NNPC and others.

Engr. Nwokedi, added that they were fabricating tools like spools, shell cutter, pillion gears, blind flange etc for NNPC heavy duty equipment and some other companies in the oil and gas sector. He confirmed that over 40 years since most of the machines were installed in the plant, they were still in perfect working condition hence they were able to produce those tools required by oil and gas companies. He added that his department currently has a staff of 23 and the list was produced and given to newsmen while many of the staff who were on duty came out for visible confirmation.

Engr. Nwokedi, lamented that the vandalization of the cables has affected the control room including the network of heavy duty cables from the control room to the Water treatment plant, Electrical repairs unit, Warehouse, Fire Department, Central repair shops, and foundry unit with adverse effect on productivity.

‘’Other assets of the company vandalized by local vandals include Transformers cables and gas lines. However, some of the cables have been restored particularly to the transformers and are now well secured with iron protectors’’, he said.

At the rolling Mill with over 200 staff, newsmen spoke to some of the staff who confirmed that PSML has paid their salaries up to date and that as at November 9, when the team visited the plant, they already had their October salaries.

Our guide confirmed that the rolling Mill have not produced rods for a couple of months now because the fluctuation in exchange rate was affecting importation of billets into the country since sourcing for billets within the country was still not possible yet.

Some of the staff that correspondents spoke to include Joshua Krokele, Lucky Moses and Owoicho Sunday who confirmed management efforts in taking care of the staff welfare despite the current challenges before the company as all their entitlements have been paid up to date.

Some finished products like 32mm rods for construction of bridges and other major heavy construction works were sighted besides short lengths as evidence of activities that had been in the plant since the taking over by PSML.

The company management also appealed to members of the host communities to continue demonstrate understanding and support for PSML towards reviving the company as the pressures by some elements towards revoking the sale will only impose a huge setback on the resuscitation efforts.

The company assured that they were committed to coming up with new projects that would benefit all stakeholders, and that the company contribution to the society in form of Corporate Social Responsibility activities were second to none. 

‘’As mentioned earlier, the company has suffered because of the disconnection of power by TCN, vandalisation of plant machinery and cables, encroachment of land ear-marked for project stage II, illegal construction of the land above the gas and water pipelines right of way,  etc, as these are causing serious distractions that the company must contend with. There is a whole lot of opportunities ahead of the company. The economic situation in the country and unstable exchange rate has slowed us down but our commitment to the growth of the company cannot be denied. We shall get over the current disruptive stage soon and everybody will smile at the end of the day’’, Engr Nsidinaya added.

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