At the present time, GPH Ispat is one of the main steel producers in Bangladesh. Meanwhile, it closed a deal with China to send out billets. In other words, a little bar of metal utilized as crude material for ms pole.
According to company officials, the company marked an agreement with a Chinese organization. To put it. differently, GPH Ispat will export 25,000 tons billet worth Tk86.48 crore. In fact, As soon as the news was on the board, GPH Ispat’s share price jumped by 3.16% to Tk26.10 at Dhaka Stock Exchange (DSE).
“This is the first bulk cargo billet export to China from Bangladesh. This agreement will help increase our business in the international market.”
– Almas Shimul (Additional Managing Director, GPH Ispat)
In the meantime, the company is booked to begin production at the full limit. Further, the operations will take place at its new processing plant at Sitakunda Upazila in Chattogram from next December.
To emphasize, The Tk2,500 crore new plant is constructed utilizing quantum technology. Especially, it is the first in Asia and the second on the planet. Moreover, producing and selling items in the neighborhood market on a preliminary premise from 7 September this year.
The yearly production limit of this extended plant is 840,000 tons of billets and 640,000 tons of bars and medium area items like steel BIM, point, channel, level bar, and so on.
Subsequent to start the full business production of the plant, the yearly creation limit of the organization will become 1,008,000 tons of billets and 760,000 tons of pole and medium area items.
To conclude, The organization has been recorded with DSE since 2012. It paid 5% money and 5 % stock profits for its investors for the 2018-19 budgetary year.