Uganda’s steel industry has appealed to the U.S. for an additional $1 billion in loans to expand its production.
U.N. Secretary-General António Guterres said in a statement that the Ugandan steel industry had requested a loan of $1.2 billion to expand steel production at the Nairobi Steelworks and another $500 million for new capacity.
Guterre’s statement did not mention U.K. Steel Group Ltd., which is seeking a $400 million loan.
Ugandan Steel Industry Minister Efrain Guebe said in the statement that his government would be “ready to consider any kind of assistance that the United States of America might provide” for Ugandan industry.
The Ugandan government has been trying to grow its steel industry and exports by buying up factories and producing steel in other countries.
The government has sought to import steel from Russia, China and Taiwan and has been pushing ahead with plans to export a significant portion of its steel.
Ugandans are also working to export their steel to Europe, South America and the U .
Guebe’s statement also said that the steel industry would seek a loan “from the United Nations” of $2.5 billion.
The loan request comes as the Ugandan government has become increasingly dependent on imports of steel from foreign countries.
Gueleb said the government is also looking to export steel to other countries in the region.