Agreement Signing Ceremony for the large scale expansion of GPH Ispat Ltd.

The Agreement Signing Ceremony for the
large scale expansion of GPH Ispat Ltd. with ultra modern long steel technology
between GPH Ispat Limited and Primetals Technologies Austria GmbH (a joint
venture of Siemens, Mitsubishi Heavy Industries and Partners) was held at hotel Westin, Dhaka on January 19, 2016 at
evening.
Mr. Alamgir Kabir, chairman GPH Ispat
Ltd. welcomed the guest and Mr. Mohammed Jahangir Alam, Chairman, GPH Group
outlined regarding upcoming plant.
The ultra modern long steel technology
that GPH Ispat will use in the project will be the first of its kind in
Bangladesh as well as in Asia region. The state- of -the- art technology will
ensure world-class supreme quality products.
After implementation of the project,
the company’s annual MS Billet production will be increased to 10,08,000 metric
tons and Rebars and Sections will
7,60,000 metric tons each year including existing one. Product quality would
confirm various national and international Standard Specifications covering
chemical, physical, mechanical and metallurgical properties. The company is committed to assure excellent
and unparallel quality products in the National and International Markets.
This project would ensure lower price
compared to that of competitors due to lowest operational cost. By the saving
from power and gas the society will be benefitted by getting high quality
products with competitive price.
This project will create employment
opportunity of about 9000 Bangladeshi workforce, of whose 1000 people will work
directly, and about 8000 will work indirectly.
Using this technology, carbon emission
will be 90 less than the World Bank’s prescribed limit and 96% less than the Bangladesh
Standards recommended limit. Reduce Suspended Particulate Materials (SPM) of
flue Gases by 60% against Bangladesh Standards.
The project would contribute Tk. 245
Cr every year to National exchequer by means of corporate Tax, VAT and Custom
duty etc. This will ensure significant contribution to the GDP that will
support development of Bangladesh.
For development of expertise of the
employees, adequate domestic and foreign trainings would be conducted by the
national and international experts. The trained employees would enrich human
resources of steel sector in Bangladesh with skill, expertise and experience.