Stellar Steel Company Limited, a subsidiary of China’s Galaxy Group and RSIN Group, has announced plans to invest $450 million in a new steel-making facility in Ogun State, Nigeria. The plant will produce hot-rolled coil steel, iron steel doors, and gas cylinders, with operations expected to commence by mid-2026.
During a courtesy visit to Ogun State Governor Dapo Abiodun, RSIN Group Vice-Chairman You Xiaotan confirmed that the project is progressing smoothly, noting that leveling and foundation works have already been completed.
Governor Abiodun welcomed the investment, describing it as a major step toward reducing Nigeria’s reliance on imported steel. He reaffirmed his administration’s commitment to creating an investor-friendly environment through streamlined approvals and incentives that attract foreign direct investments.
Ogun State has continued to strengthen its position as a top destination for international investors. Recently, the state secured a $500 million infrastructure partnership with the Japan International Cooperation Agency (JICA) to improve power supply, along with a $50 million agro-industrial investment by another group.
This new development highlights growing confidence from global industrial players in Nigeria’s manufacturing potential and Ogun State’s commitment to fostering large-scale industrial growth.