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Tiger Steel investing in PEB plant in Bangladesh

Steel News - Published on Mon, 11 Mar 2019

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The Daily Star reported that Tiger Steel Bangladesh plans to open a new prefabricated steel manufacturing plant in April. Mr Liton Kumar Sharma MD said “The company has already spent Tk 20 crore on the factory being built on a 5.5-bigha land at Bhaluka in Mymensingh and another Tk 180 crore will be invested in the next two years. We have already imported necessary equipment and capital machinery from Korea and China and now the installation work is going on.”

According to Sharma, Southeast Bank is providing 30% of the cost to set up the new unit, which will produce 100 tonnes of prefabricated steel sections every day and the amount will increase gradually.

He said the annual demand for prefabricated steel in Bangladesh is around 10 lakh tonnes and local manufacturers could produce only 4 to 5 lakh tonnes and the rest comes from India, China, Australia, Japan, Korea and Taiwan.

Steel structures started to erect in Bangladesh in 1985 with the components being initially imported. In 2001, local entrepreneurs first took up the initiative to build steel buildings by themselves. Now there are at least 30 local prefabricated steel makers in Bangladesh, each manufacturing specific items. According to Sharma, prefabricated steel was gaining popularity as it enabled rapid construction of structures which could withstand earthquakes.

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Posted By : Rabi Wangkhem on Mon, 11 Mar 2019
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