Appollo Ispat Complex Limited, one of the largest CI sheet manufacturers of the country, is going to introduce advanced and environment-friendly technology to enhance production portfolio and reduce cost.
Appollo established RTF NOF-based galvanising technology at its existing plant site, located at Shimrail of Demra and it will reduce around 10 per cent cost.
The steel maker already invested Tk 1.5 billion for the technology and the total project size is around Tk 10 billion.
The company got listed on both the bourses of the country in late-2013.
"Appollo wants to be the market leader in steel manufacturing in the country, so it came up with the latest and advanced technology to help flourish the local market," said its chairman Deen Mohammad.
At present, Appollo Ispat snares 15 per cent of the total domestic market.
In an interview with The Financial Express, he said usage of lead and harmful chemicals in conventional method is very harmful both for human health and environment. People are nowadays inclined to environment-friendly products.
RTF-based NOF (non oxide furnace) is technologically designed for producing environment-friendly products which does not use of acid or lead. Due to shining glamour and product quality, consumers' choices are now being shifted from conventional galvanised products to NOF products.
In view of increasing demand of steel products in Bangladesh, Mr Deen Mohammad said Appollo plans to include the colour coating sheet in its existing product line.
"For this purpose, a modern colour coating plant and equipments will be installed in the existing plant site which will be capable of manufacturing high quality corrugated steel sheets of flat and round," he said.
Appollo also wants to increase the product quality and the production capacity. It will install one set of Annealing Line which will facilitate the existing manufacturing system to horizontally diversify its existing product line.
Deen Mohammad, who contributed a lot in many areas of trade, manufacturing, export and import, migrated from present Assam in India during Pakistan period driven away by communal violence.
Chairman of both Phoenix Group and Apollo Group, Deen Mohammad is the architect of many enterprises in industry, trade and commerce in his four-decade long business career.
Mr. Deen Mohammad made significant contributions in banking, insurance sectors as well.
He is the Chairman of City Bank Limited, a first generation private sector bank of the country.
The octogenarian entrepreneur said Bangladesh is one of the lowest users of steel despite 1.2 million tonnes of annual consumption. But the country has huge potentials in this field.
Appollo Ispat accounts for 15 per cent of the total domestic market.
Deen Mohammad is the Chairman, Board of Directors of Phoenix Insurance Company and Phoenix Leasing Company.