Uttara Steel Mill auctioned
Thursday, 22 November 2007
Our Correspondent
NILPHAMARI, Nov 21: Uttara Steel Mill Ltd of Saidpur has been auctioned to one businessman Raj Kumar Poddar due to non-payment of loans of the Shilpa Bank, sources said.
According to the sources, Uttara Steel Mill, a small steel mill in Kamar Pukur of Saidpur in the district was shut down in 1997.
Established in 1982, the mill was producing iron-based materials for the northern region. The mill established by Monir Hossain Sinha was financed by Shilpa Bank, sources added.
Recently, the mill was auctioned for non-payment of the bank loan. there remains an outstanding electricity bill of Tk 2.9 million (29 lakh) for which the new owner of the mill is facing an uphill task in reopening the mill.
NILPHAMARI, Nov 21: Uttara Steel Mill Ltd of Saidpur has been auctioned to one businessman Raj Kumar Poddar due to non-payment of loans of the Shilpa Bank, sources said.
According to the sources, Uttara Steel Mill, a small steel mill in Kamar Pukur of Saidpur in the district was shut down in 1997.
Established in 1982, the mill was producing iron-based materials for the northern region. The mill established by Monir Hossain Sinha was financed by Shilpa Bank, sources added.
Recently, the mill was auctioned for non-payment of the bank loan. there remains an outstanding electricity bill of Tk 2.9 million (29 lakh) for which the new owner of the mill is facing an uphill task in reopening the mill.