GPH Ispat Limited ( bn, জিপিএইচ ইস্পাত লিমিটেড) is a public limited
steel manufacturing
Steelmaking is the process of producing steel from iron ore and carbon/or scrap. In steelmaking, impurities such as nitrogen, silicon, phosphorus, sulfur and excess carbon (the most important impurity) are removed from the sourced iron, and alloy ...
company based in
Chittagong
Chittagong ( /ˈtʃɪt əˌɡɒŋ/ ''chit-uh-gong''; ctg, চিটাং; bn, চিটাগং), officially Chattogram ( bn, চট্টগ্রাম), is the second-largest city in Bangladesh after Dhaka and third largest city in B ...
,
Bangladesh
Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mos ...
.
Name
GPH is the acronym of "God fearing", "Plain living" and "High Thinking". Ispat is the transliteration of the Bengali word ''ইস্পাত'' which means
Steel
Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistant ty ...
.
History
The company was founded on 17 May 2006 and started its operation in 2008.
It was listed as a
public limited company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company ...
in 2012.
In 2016, the company started its expansion project in
Sitakunda, Chittagong in association with
Primetals Technologies, a joint venture of
Siemens VAI
Primetals Technologies Limited, is an engineering and plant construction company headquartered in London, United Kingdom, with numerous locations worldwide. It serves clients in the metals industry, both the ferrous and the nonferrous metals sec ...
and
Mitsubishi Heavy Industries & Partners as the equipment supplier. The company invested around US$200 million for the 0.8 MTPY steel manufacturing facility. The new mill uses a Quantum
electric arc furnace
An electric arc furnace (EAF) is a furnace that heats material by means of an electric arc.
Industrial arc furnaces range in size from small units of approximately one-tonne capacity (used in foundries for producing cast iron products) up to ab ...
, a
ladle furnace, a three-strand, high-speed continuous
billet caster, and a bar and section mill. It uses WinLink Flex technology for rolling mill for the first time in world. The company raised a total amount of US$154 million through 12 financial institutions as well as capital market and company's retained earnings for the expansion project. It purchased 8.85 acres of land for the new factory beside its old steel plant.
It collected term loans of $95 million from
ODDO BHF Bank of Germany and $44.2 million from
the World Bank
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...
, which were disbursed through commercial banks under the supervision of
central bank of Bangladesh.
It started selling products of its new plant to local and foreign markets from September 2020.
Environmental issue
In April 2019,
Forest department of Bangladesh Government filed a case against GPH Ispat Limited for constructing a makeshift dam on the stream of a reserve forest in
Sitakunda
Sitakunda or Sitakunda Town ( bn, সীতাকুণ্ড শহর) is an administrative centre and the sole municipality (''Paurashava'') of Sitakunda Upazila in Chattogram District, located in Chattogram Division, Bangladesh. Sitakunda is ...
to secure water supply for its new factory. Later on, GPH ispat published a clarification through national dailies. According to them, it was a pre-preparatory work of the rain water harvesting project, not makeshift dam.
See also
*
BSRM Steels Limited
References
{{reflist
Steel companies of Bangladesh
Manufacturing companies established in 2008
Manufacturing companies based in Chittagong
Companies listed on the Chittagong Stock Exchange
Bangladeshi brands