Agreement with Primetals Technologies.Austria for supplying of machineries for large scale expansion

Dated: Chittagong

January 12, 2016 

This is for kind information of all valued Shareholders of GPH Ispat Limited that the Board of Directors of the Company in its meeting held on January 12, 2016 at 3.00 pm has resolved the following decisions:-

“The Company is going to enter into an agreement with Primetals Technologies Austria Gmbh, Austria (a joint venture of Siemens and Mitsubishi Heavy Industries & Partner) for supplying of machineries for large scale expansion of GPH Ispat Ltd with ultra modern long steel technology by enhancement of production capacity of MS Billet for 840,000 M. Ton (per annum) and MS Rod, Medium Section Product (Steel bim, Angle, channel, flat bar etc) for 640,000 M. Ton (per annum). The said enhancement of production capacity will be added to the existing annual capacity of 168,000 M. Ton MS Billet and 120,000 M. Ton MS Rod. After expansion, the total capacity will reach to 1,008,000 M. Ton in case of MS Billet whereas the capacity of MS Rod and Medium Section product will be 760,000 M. Ton per annum. The approximate total cost of the said expansion plan is BDT 17,000 Million which will be implemented in two phases. The cost of the expansion will be arranged from Owners Equity and from Bank/Financial Institution loan.”

By order of the Board

Arafat Kamal, FCA

Company Secretary


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