A prominent Steel Manufacturing company, Aarti Steel Nigeria Limited, has refuted claims made by the media suggesting that the company is considering shutting down operations in Nigeria. In its official statement titled ‘Denial of Media Speculations Regarding Aarti Steel Nigeria Limited’s Potential Departure from Nigeria’, the company clarified that these reports are baseless and do not align with their actual plans or decisions. The statement noted that they are actively seeking ways to deal with and lessen the consequences of inaccurate media reports as these false allegations could disrupt its business activities and cause unwarranted uncertainty among its stakeholders.
The firm reiterated its unwavering dedication to continue operations in Nigeria as contained in the statement signed by Aarti’s Chief Finance Officer, Sunil Kumar Sharma, and Director and Head of Operations, Mr. Girish Chandra Tripathi. It also reassured stakeholders, partners, and the public that Aarti Steel Nigeria Limited will continue its operations in the country with no intentions of leaving. Established in 2003, the company has injected a substantial US$100 million into the Nigerian Economy over the years, highlighting its dedication to fostering industrial progress and advancement within the nation.
Affordable local goods and job opportunities are created by the firm.
Furthermore, the company emphasized that its primary goal has always been to ensure the continued success and expansion of its operations in Nigeria over the long run. It also made a point to regularly update its banking partners on various endeavours to strengthen and improve the Company through recapitalization, guaranteeing that they are aware of the firm’s commitment to the Sustainability and advancement of its business activities. Aarti Steel Nigeria Limited remains unwavering in their optimistic belief in the Nigerian economy, despite the current economic instability and foreign exchange crisis.
As per the statement, Aarti’s dedication to Nigeria remains strong, as it persists in expanding presence and supporting its employees and surrounding communities. Aarti has emerged as a top manufacturing company in Nigeria, playing a vital role in job creation and economic growth. Through its production of affordable local goods and job opportunities, the firm has made a significant impact on the country. The local businesses have received crucial support from its operations, leading to notable Economic Growth and benefiting the communities it operates in.
Facilitating the production of quality steel products.
After commencing operations in Nigeria in the year 2007 and launching its advanced galvanizing line, the company has consistently grown and diversified its offerings with various projects. These endeavours, among others, have resulted in a total Investment of around US$100 million, positioning the company as a leading manufacturer of steel products in Nigeria. The firm also leverages Nigeria as the central point for its operations in Africa, extending to six additional sites across the continent.
Located in OTA, Ogun State Nigeria, the firm is a top manufacturer of flat products and Tubular Hollow sections. Their state-of-the-art facilities produce premium Galvanised Roofing Sheets, Pre Painted Galvanised Sheets, profiles (GP/GC Sheets), and Tubular Hollow Sections including MS and GI Pipes. The company is a one-stop shop for all steel manufacturing needs, offering a wide range of products including Carbon and Alloy Steel Rounds and Squares, Sponge Iron, Power and Ferro Alloys, Spring Steel Wires, and Tyre Bead Wire. Their products cater specifically to the automobile industry.
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Among the notable impacts of the firm on Nigeria’s economy include creating both direct and indirect job opportunities, fostering social and economic progress, strengthening local production capabilities through integrated processes, and participating in corporate social responsibility projects that focus on advancing education, healthcare, and community well-being. By exporting high-quality steel products, the company has played a key role in boosting Nigeria’s economy and reducing its reliance on foreign imports. This has helped strengthen the country’s Economic Stability while supporting local industries and Infrastructure development.