Aarti Steel Nigeria Limited has debunked reports alleging that it plans to exit Nigeria.
In a statement jointly signed by Sunil Kumar Sharma, chief finance officer, and Girish Chandra Tripathi, director and head of operations, stated: ” We assure our stakeholders, partners, and the general public that Aarti Steel Nigeria Limited has no plans to exit the country.”
A report had earlier said that the Indian steel maker was planning to exit Nigeria, with African Industries and Bhari already bidding.
But the firm, according to its statement titled, ‘False Media Reports on Aarti Steel Nigeria Limited’s Planned Exit from Nigeria’, said: “Aarti Steel Nigeria Limited wishes to address and categorically refute the recent media reports falsely claiming that the Company is planning to exit Nigeria.
These reports are entirely unfounded and do not reflect our intentions or actions.” “We are currently exploring various avenues to address and mitigate the impact of the false media reports.
These erroneous claims have the potential to disrupt our business operations and create unnecessary uncertainty among our stakeholders. We are taking all necessary steps to correct the misinformation and assure our stakeholders of our continued presence and investment in Nigeria,” said the statement.
Since our inception in 2003, we have invested a cumulative total of US$100 million into the Nigerian economy, underscoring our commitment to the nation’s industrial growth and development.” ▪︎BusinessDay