GPH Steel exporting billets to China from next month

The possibility of exporting billets worth billions of dollars in the world market is moving hard at the door of Bangladesh. Chittagong's top steel producer GPH Steel is going to export billets worth about one crore dollars.

GPH produces 1 million metric tons of steel annually. The company exported 2,500 metric tons of billets to India and Sri Lanka between 2008 and 2011. However, due to some crisis in the production process, these exports were later stopped. The company is re-entering the world market through exports to China. They have set a target of one million US dollars for billet exports in the current financial year.

Their 25,000 tons billet ship will dock in a Chinese port next November. The concerned people think that the export of billet to China will play a role in enhancing the image of the country. They say that if it is maintained, steel exports, like the ready-made garment sector, will become a major source of foreign exchange earnings.

According to the concerned sources, the steel relationship is close with the development. The average per capita steel consumption in the world is 208 kg. 600 kg steel is used in USA, 506 kg in China, 400 kg in South Korea, 100 kg in Japan, 65 kg in India, 55 kg in Sri Lanka, 48 kg in Myanmar, 45 kg in Bangladesh and 42 kg in Pakistan. 

Commenting on the progress made in steel, the concerned people said that various factories are producing steel products using the latest technology. Building quality steel at a cost of thousands of crores taka is ensuring the security of the infrastructure. 

According to the steel sector concerned, there is an opportunity to export steel worth thousands of crores taka by meeting the domestic demand. Taking advantage of this opportunity, the steel sector can be developed as a major export sector like the readymade garments sector. 

GPH Steel has started working to take advantage of this opportunity. The factory, which has the capacity to produce one million tones of steel annually, is moving ahead with the goal of exporting at least one million dollars of steel in the current financial year. They are going to export 25 thousand tons of billets worth 1 crore 17 lakh 50 thousand dollars in the first phase. These billets will be exported to China next November. 

In 2008, GPH exported 2.5 thousand tons of billets. However, due to some problems in the production process, it was not possible to hold the billet export market. GPH currently produces world-class billets, said Almas Shimul, deputy managing director of the company.  “We are going to enter the Chinese market,” he said. I am exporting 25,000 tons of billets next month with a market value of around Tk 87 crore. Continuing this trend, we want to export at least 100 million worth of billets in the current financial year. 

GPH Media Advisor Osman Gani Chowdhury said, "The country's steel sector has come a long way, so GPH has played a direct role. Billet exports to China will enhance the country's image in the world market”.