The Financial Express

GPH exports billet worth $71m to China

| Updated: October 11, 2021 09:14:18

GPH exports billet worth $71m to China

CHATTOGRAM: GPH Ispat Limited has exported a total of 120,000 MT billet to China and earned a total of 71 million US dollar so far. The GPH exported the billets by five shipments from November last year till today.

Sources said GPH exported a total of 29,658 MT billets by fifth shipment through Chittagong sea port on October 5 last. The buyer of the billet was Mac Steel International of China. The MV Crown Virtue loaded with the GPH billets left Chittagong port for Zhang Jiangang, Yangtze River Port on October 5 afternoon.

Sources said the fourth shipment of prime quality steel billet was exported to China main port known as Jiangyin/Xiamen port May 6 last while the first shipment was held at the Chittagong port on November last year which was the first export of high quality steel billet to China from Bangladesh.

Executive Director of GPH Kamrul Islam FCA said, "It was the first time billet export in bulk cargo from Bangladesh. We had the record of billet export in 2008 which was 2,500 MT only and also initiated rod and billet export to India in the year of 2010-11."

"Now, we are in the phase of biggest shipment in the history of Bangladesh in terms of value. If policy support from Government will receive like other export sector, we would continue the export of billet in future. This will become a new avenue in the export sector," he said.

He further said, "GPH is a capital intensive industry, the value addition of the industry is more than 50% in locally. We use 50% to 70% imported raw material and the remaining portion of 30 per cent to 50 per cent of main raw material has been collected through local source. Other manufacturer will come forward for export, if they can ensure the international quality like GPH."

He also said, "German technology which is first in Asia and second in the world. Now, we have more than one million MT production capacities at our plant. Power consumption is more than 50% lower than Induction Furnace and 30% lower than traditional EAF. We have no gas based reheating furnace used in the rolling process. Ensuring the highest quality of products; the mill is able to produce up to class 3 grade product which ensures up to 790 MPA by quenching and class 4 grade products which ensure maximum 980 MPA by micro alloying."

He also urged the government for stimulation for the export of billet and increases the production of GPH.

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