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Streel Industry: Steady demands nourish robust growth | Bangladesh Ec...

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Streel Industry: Steady demands nourish robust growth
Posted on May 12, 2009 | Leave a comment

http://www.newagebd.com/2009/may/12/busi.html#1
STEEL INDUSTRY
Steady demands nourish robust growth
The file photo shows workers busy at Bangladesh Steel Re-rolling Mills that produces high-grade steel.

The file photo shows workers busy at Bangladesh Steel Re-rolling
Mills that produces high-grade steel.
Shakhawat Hossain
The country’s steel industry has been getting continuous investment boom due to steady demands.
Steel manufacturers see no major negative impact on their industry as they believe the country’s economy will keep its impressive growth despite the global financial recession.
They said the country with nearly six per cent growth in the last three years provides enough clues to consume higher production of mild steel rod to be generated by the big players with their proposed new investments.
‘The rod industry will not face major problem due to growing investment in the sector,’ said Bangladesh Steel
Re-rolling Mills chairman Ali Hossain Akbar Ali.
‘Chance is slim even for the small players to become sick as the growing consumption rate of steel will remain in the coming years despite global financial recession,’ he told New Age.
BSRM, producer of high-grade steel, makes up more than 25 per cent of the total demand.
It is now on trial production in its newly installed 3,00,000-tonne plant, set up at a cost of over Tk 3.5 billion. It has also unveiled plans to invest another Tk 500 crore to raise its capacity to around one million tonnes within the next five years.

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