Delta Steel Company Limited, Ovwian-Aladja (near Warri) in Delta State is an integrated steel plant established by the Federal Government of Nigeria at a cost of about N1.26 billion (equivalent of US$1.89 billion in 1979 – exchange rate approximately N1 to US$0.6) to enhance the industrial capability of Nigeria. Another steel plant established by the federal government for the same purpose was the Ajaokuta Steel Company Ltd. The need for the steel plants emanated from the rapidly growing demand for crude steel in the country. It was projected that by 1980 the demand for steel would have risen to 9.168 million metric tons. In the event, the demand rose from 0.5 million metric tons in 1970 to 3.5 million metric tons in 1980.