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GPH Ispat, a publicly traded steel manufacturer, has been successful to utilise more than 50 per cent of the total production capacity of its newly launched plant in Chattogram.
The quantity of MS billets produced in the plant is around 60-65 per cent of its total capacity, while the MS road production is about 55-60 per cent of the total capacity, said the company in filings with the Dhaka Stock Exchange on Thursday.
The company also disclosed that the plant was yet to start production of medium range products -- like steel beam, angle, channel, and flat bar – due to the Covid-19 inflicted adversities.
As part of its business expansion plan, GPH Ispat launched the plant at Kumira of Sitakund in Chattogram on June 21, with MS billet production capacity of 8.4 lakh ton and MS rod production capacity of 6.4 lakh ton.
Currently, the company has a market capital of Tk 2,827crore while its paid-up capital is Tk 397 crore.
In financial year 2019-20, the GPH Ispat geared up production activities and delivered reasonable revenue defying the pandemic, which has positively impacted in shareholders’ returns.
It disbursed 5 per cent cash and 5 per cent stock dividend in FY20.
