PHP Float Glass Industries Announces Tk 500 Crore Investment2 min read
In a meticulously planned initiative to fortify its standing as a leading glass manufacturer, PHP Float Glass Industries Limited reportedly has formally declared its intention to make a strategic investment of Tk 500 crore. This substantial investment is earmarked for the introduction of three innovative products – specifically, bending glass, fiberglass net, and aluminum ladders.
As a major industry player, PHP Float Glass Industries Limited is set to launch three new facilities in Chattogram’s Barabkunda factory area, driven by market research identifying a demand from 10,000 furniture producers nationwide. The company aims to tailor its offerings to meet these specific market requirements.
For bending glass, a crucial component in furniture like tea tables, PHP will construct a plant with a monthly capacity ranging from 30,000 to 50,000 square feet. The focus is on reducing import dependence and slashing costs by 6-7 times. PHP plans to produce according to demand, ensuring flexibility in adapting production as needed.
Commercial production of bending glass is expected to commence within the next four to six months, with preparations underway, including the opening of a letter of credit for the import of necessary machinery.
In the realm of fiberglass net production, PHP is reportedly set to establish a new unit with a 100-tonne capacity, with plans for future expansion based on demand. The company plans to leverage Chinese technology for fiberglass nets, emphasizing their sustainability and cost-effectiveness compared to traditional materials like Mild Steel (MS) or Stainless Steel (SS) nets.
The fiberglass nets will serve as a versatile solution, acting as mosquito barrier nets for windows and traditional mosquito nets. With the alarming increase in dengue fever cases, PHP anticipates that domestically produced mosquito nets will be at least 10 times more affordable than current market prices.
Further diversifying its product portfolio, PHP will establish a production unit for aluminum ladders. The company, which already supplies raw materials to local ladder manufacturers, sees strategic advantages in setting up a dedicated unit, given the ready availability of raw materials.
PHP Float Glass Industries, established in 2004 in Chattogram with an initial investment of around Tk1,500 crore, has continuously expanded its capabilities. The company can currently meet 40% of the country’s demand for float glass.
Over the years, PHP has introduced various products, including insulating glass and glass doors with stunning designs. In February 2023, the company remained optimistic about the progress of Bangladesh, dedicating itself to the nation’s growth.
The investment aligns with PHP’s track record of innovation and commitment to meeting the evolving needs of the market. As the country’s economy continues to grow, PHP Float Glass Industries is poised to play a pivotal role in shaping the future of the glass and related industries in Bangladesh.
Follow Markedium for more updates!