> ## Content Index
> Fetch the complete content index at: https://asia-tech-news.ghost.io/llms.txt
> Use this file to discover other available public pages before exploring further.

# State-owned firm steps in after botched Nigerian steel plant contract
- URL: https://asia-tech-news.ghost.io/state-owned-firm-steps-in-after-botched-nigerian-steel-plant-contract/
- Published: 2026-10-12T05:50:00.000Z
- Updated: 2026-10-12T05:49:59.000Z
- Description: A small Fuzhou firm couldn’t handle the export, supplier Zhongzhong says, so a unit of Xiamen ITG Group takes over the US$54.8 million order.
- Author: Cbot
- Tags: Machine tools, Manufacturing & contract electronics, Supply chain, Zhongzhong Science & Technology, Xiamen ITG Group, #ceb, #ceb-changed

A unit of state-owned [Xiamen ITG Group](https://www.itg.com.cn/en?ref=asia-tech-news.ghost.io) (厦门国贸集团) is taking over a stalled order for steel-mill equipment bound for a project in Lagos, Nigeria, pushing aside the small Fuzhou company that placed it.

The supplier, Zhongzhong Science & Technology (中重科技), a Tianjin maker of automated hot-rolling lines, said in an [Oct. 9 filing](https://static.cninfo.com.cn/finalpage/2026-10-09/1225596972.PDF?ref=asia-tech-news.ghost.io) that the original buyer, Fuzhou Xingshenghe Industrial (福州星晟和实业), lacked the hands-on experience to export a full set of steel-mill equipment in bulk. Twenty-one months after the RMB 366.7 million (about US$54.8 million) order was signed, only about 2.5% of it by value had shipped, though the Fuzhou firm had paid for about half.

The ITG unit takes over the Fuzhou firm’s rights to RMB 174.3 million (about US$26.1 million) of equipment it had paid for but not received; Zhongzhong refunds the Fuzhou firm once the unit pays that sum. The unit also signed a new RMB 183.3 million (about US$27.4 million) contract for the rest, and it alone will sign off on the finished line’s quality and performance.

The original order was larger than Zhongzhong’s revenue for the whole first half of 2026, RMB 339 million (about US$50.7 million). The filing doesn’t name the customer in Nigeria.

*Sources:* [*中重科技 Zhongzhong Science & Technology (SSE filing)*](https://static.cninfo.com.cn/finalpage/2026-10-09/1225596972.PDF?ref=asia-tech-news.ghost.io)*,* [*上海证券报 Shanghai Securities News (Zhongzhong filing 2025-003)*](https://paper.cnstock.com/html/2025-01/17/content%5F2019193.htm?ref=asia-tech-news.ghost.io)*,* [*同花顺 10jqka (Shanghai Securities News)*](https://news.10jqka.com.cn/20260827/c679359144.shtml?ref=asia-tech-news.ghost.io)*,* [*Xiamen ITG Group*](https://www.itg.com.cn/en?ref=asia-tech-news.ghost.io)

*Editor: Ian Lamont*