$150M Aluminium, Copper Recycling Plant Launched in Ogun State

Ogun State continues to attract significant investments as Neveah Limited establishes a cutting-edge recycling plant for aluminium and copper ingots in Mowe. The facility, valued at $150 million, is expected to employ over 500 people and generate substantial annual revenue, contributing to Nigeria’s non-oil export sector.

The Managing Director of Neveah Limited, Mr. Ibidapo Lawal, revealed that the plant will recycle aluminium scraps from car engines and cans into ADC 12 for export to car manufacturers in Asia and beyond. It is projected to account for 2.53% of Nigeria’s non-oil exports and enhance sustainability by reducing reliance on imported raw materials.

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Ogun State was chosen for its proximity to major ports, skilled labor availability, infrastructure, and access to affordable gas. Lawal emphasized these factors as critical for operational efficiency compared to other states.

Governor Dapo Abiodun expressed strong support for the project during a recent briefing, highlighting its potential to boost local employment and economic development. The plant aligns with Ogun State’s strategy to attract investments and foster industrial growth.