Largest steel co goes into operation today
Jasim Uddin Haroon | Saturday, 14 June 2008
BSRM Steel Limited, the country's largest -- 375000-tonne capacity -- steel plant, will go into commercial operation today (Saturday).
The new steel company, a subsidiary of BSRM Group, has been set up at Fouzdarhat in Chittagong at a cost of around Tk 4.7 billion with technical assistance of Danieli, an Italian company.
"We will formally commission the new plant Saturday. It is designed to produce superior quality mild steel (MS) rod that will help save construction cost by at least 15 per cent," said Chairman of the BSRM Group, Alihussain Akberali.
Commerce Adviser Hossain Zillur Rahman is likely to formally launch the operation of the plant today (Saturday).
This is one of the largest steel plants in south Asia, as only Tata and Essar of India have plants exceeding the production capacity of the plant.
MS rod will be produced at the steel plant using 'quenched thermal mechanical' method, first ever in Bangladesh. It is 15 per cent superior to the existing 60 grade mild steel (MS) rod, the company claimed.
"The technology in use at the plant is better than many plants in the world. India's Tata has established a similar plant recently," said the BSRM chairman.
It will reduce the per square foot construction cost by Tk 54, he claimed.
He said the rod will be produced using imported billet.
Sources at the BSRM said the superior quality MS rod might get market in Middle Eastern countries.
"The product has tremendous export potentialities in the Middle East. But we want to fulfill its demand in the country first," Mr. Akberali said.
BSRM chairman said BSRM Steel Limited, a public limited company, will go public through offloading shares in the stock market.
"We are proceeding to launch initial public offering (IPO) once we get clearance from the securities and Exchange Commission," he added.
The new steel product has been priced at Tk 72,000 per tonne for the local market.
The annual demand for MS rod is around 2.0 million tonnes in the country. The company will meet around one fifth of the country's demand for the product.
The BSRM Group, involved in steel sector since 1930 in the region, has annual turnover over Tk 9.0 billion.
The new steel company, a subsidiary of BSRM Group, has been set up at Fouzdarhat in Chittagong at a cost of around Tk 4.7 billion with technical assistance of Danieli, an Italian company.
"We will formally commission the new plant Saturday. It is designed to produce superior quality mild steel (MS) rod that will help save construction cost by at least 15 per cent," said Chairman of the BSRM Group, Alihussain Akberali.
Commerce Adviser Hossain Zillur Rahman is likely to formally launch the operation of the plant today (Saturday).
This is one of the largest steel plants in south Asia, as only Tata and Essar of India have plants exceeding the production capacity of the plant.
MS rod will be produced at the steel plant using 'quenched thermal mechanical' method, first ever in Bangladesh. It is 15 per cent superior to the existing 60 grade mild steel (MS) rod, the company claimed.
"The technology in use at the plant is better than many plants in the world. India's Tata has established a similar plant recently," said the BSRM chairman.
It will reduce the per square foot construction cost by Tk 54, he claimed.
He said the rod will be produced using imported billet.
Sources at the BSRM said the superior quality MS rod might get market in Middle Eastern countries.
"The product has tremendous export potentialities in the Middle East. But we want to fulfill its demand in the country first," Mr. Akberali said.
BSRM chairman said BSRM Steel Limited, a public limited company, will go public through offloading shares in the stock market.
"We are proceeding to launch initial public offering (IPO) once we get clearance from the securities and Exchange Commission," he added.
The new steel product has been priced at Tk 72,000 per tonne for the local market.
The annual demand for MS rod is around 2.0 million tonnes in the country. The company will meet around one fifth of the country's demand for the product.
The BSRM Group, involved in steel sector since 1930 in the region, has annual turnover over Tk 9.0 billion.