Bangladesh's steel sector beating global market
Stark contrast to the world steel market, Bangladesh is doing really well with a 15% increase in the steel capacity last year. With large infrastructure projects, including bridges and other major projects the steel makers are supplying happily and expecting further growth at least in the next 10 years. 2015 promises the industry to grow from a current level of just below 1 million tonnes, to over 3 million tonnes. Over four decades, the production has multiplied many folds and is expected to double in 2022.
Although the country imports many steel items amounted to 250,000 tonnes, it has a capacity to export products as well. Steel industry is further placing emphasis on its capacity building due to crucial infrastructure advancement plans of Bangladesh. Steel production is being transformed into adopting electric arc furnaces, from the tradition re-rolling of ship cutting plates which, are utilized to produce quality through backward integration.
Stark contrast to the world steel market, Bangladesh is doing really well with a 15% increase in the steel capacity last year. With large infrastructure projects, including bridges and other major projects the steel makers are supplying happily and expecting further growth at least in the next 10 years. 2015 promises the industry to grow from a current level of just below 1 million tonnes, to over 3 million tonnes. Over four decades, the production has multiplied many folds and is expected to double in 2022.
Although the country imports many steel items amounted to 250,000 tonnes, it has a capacity to export products as well. Steel industry is further placing emphasis on its capacity building due to crucial infrastructure advancement plans of Bangladesh. Steel production is being transformed into adopting electric arc furnaces, from the tradition re-rolling of ship cutting plates which, are utilized to produce quality through backward integration.
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