GPH Ispat Ltd plans to establish the largest modern steel production facility in Chittagong through a joint venture with an Austrian company. The new plant will produce 0.84 million metric tons of billets and 0.64 million metric tons of rebar and sections annually. It will help save foreign exchange and energy costs for Bangladesh while also employing around 10,000 workers and contributing over 2.26 billion taka annually to the government. The managing director expressed hope that the plant will help develop the local and national economy through increased domestic trade, industrial development, tourism, and remittances.

1. Sunday, April 24, 2016
FE Report
GPH Ispat Ltd is going to establish largest cutting edge steel production mechanism at
Chittagong.
The managing director of GPH Steel Ltd, Md Jahangir Alam expressed this view while speaking
in the view exchange programme with its channel-partners on Saturday was held at a hotel of
Teknaf, Chittagong.
Recently, GPH has inked deal with Primetal Technologies GmBH of Austria to establish joint-
venture project at Chittagong which will be the largest contemporary and cutting edge steel
production facility of the sector in the country as well as in Asia, he said.
This new facilities will produce 0.84 million MT billet, 0.64 million MT Rebar’s and sections
per annum as a result customers of the country will get hi-quality steel products at lesser cost. It
will also help save foreign exchanges, gas and electricity of the country. The project will help
employ around 10 thousand direct and indirect workers and contribute to government earnings
with 2.26 billion per annum, he added.
He also expressed hope that internal commerce of Teknaf, newly established industrial state at
Teknaf , development of the tourism sector over there as well as the remittance earners of the
area will help develop the country’s economy, said a press release.
Additional Managing Director of GPH Ispat Ltd Md Almas Shimul, Mayor of the Teknaf
municipality Hazi Md Islam, Manager (operation) of Teknaf land port Abu Nur Khalid, Upzilla
chairman Md Zafar Ahmad, Vice-chairman Rafiq Uddin, Mahbubur Rahman, Jiaul Karim,
Deputy General manager of GPH Ispat Ltd Jahed Al Ashba were, among others, present on the
programme, it added.
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End/Sanwar Hossain.