GPH Ispat, a listed steel manufacturing company, started commercial production at its new Tk 23.90 billion expansion plant on Monday.
The company started commercial production using state-of-the-art technology after successful commissioning (partially) with the help of local technicians as well as online support from the technology supplier Primetal Technologies Austria GmbH, said the company in a filing with the Dhaka Stock Exchange (DSE) today (Monday).
“Due to pandemic Covid-19 impact, it is not possible to avail on-site support of technicians from Primetal Technologies Austria GmbH, who are the main technology supplier of the plant which lead to barrier of the completion of commissioning it’s all products,” said the company.
According to local technicians, the plant and product are fit to start commercial production of certain items, especially MS Rod and MS Billet.
The new factory, which is an expansion of GHP Ispat’s existing operations, has the annual capacity to produce 840,000 metric tonnes of mild steel (MS) billet and 640,000 metric tonnes MS rod and medium section products such as steel beam, angle, channel, flat bar etc, but the company has to wait for a certain period of time for the full-fledged production to yield the said capacity.
In September last year, the company started trail production from the new expansion plant.
Each share of the company, which was listed on the DSE in 2012, closed at Tk 36.50 on Sunday.