GPH Ispat Limited and Primetals Technologies Austria GmbH (a joint venture of Siemens, Mitsubishi Heavy Industries and Partners) yesterday, (January 19, 2016 in the evening ) signed an agreement at hotel Westin, Dhaka for the large scale expansion of GPH Ispat Ltd with ultra-modern long steel technology.
Managing Director of GPH Ispat Mr. Mohammed Jahangir Alam and Chief executive of Primetals Technologies Austria Dr. Heiner RÖHRL signed the contract on behalf of their respective organizations.
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.