Aarti Steel, the manufacturer of roofing sheets, has denied reports of closing its Nigeria factory amid rumors of halting operations due to unfavorable business conditions. In a joint statement by Sunil Sharma, CFO of Aarti Steel Nigeria Limited, and Girish Tripathi, Head of Operations, the company categorically rejected media claims as untrue and misleading.
The company emphasized its commitment to dispel rumors that could disrupt business operations and create unnecessary uncertainty among stakeholders. Aarti Steel underscored its significant investment of $100 million in the Nigerian economy, highlighting its positive impact through job creation, tax payments, and corporate social responsibility initiatives.
“We remain firmly committed to our long-term strategy for sustaining and expanding our operations in Nigeria,” the statement affirmed. It also assured stakeholders of ongoing dialogue with banking partners to strengthen business operations.
Established in 2003 and formally operational since 2007, Aarti Steel is a subsidiary of the Aarti Group, which operates manufacturing facilities across several African nations, including Ethiopia and Sudan. The company’s leaders reaffirmed their dedication to growth and stability in Nigeria despite recent speculations.
