GPH Ispat
 Brand logo | |
Native name | জিপিএইচ ইস্পাত লিমিটেড |
|---|---|
| Company type | Public Limited |
| DSE: GPHISPAT CSE: GPHISPAT | |
| Industry | Reinforcement steel |
| Founded | 17 May 2006 |
| Founder | Mohammed Jahangir Alam |
| Headquarters | Crown Chamber, Asadganj-325, , |
Key people |
|
| Revenue |  ৳5,765.69 Crore (2022-23) |
 ৳26.76 Crore (2022-23) | |
| Total assets | ৳8,638.37 Crore (2022-23) |
Number of employees | 2,286 (as of 30 June 2023) |
| Parent | GPH Group |
| Website | www |
GPH Ispat Limited (Bengali: জিপিএইচ ইস্পাত লিমিটেড) is a public limited steel manufacturing company based in Chittagong, Bangladesh.[1][2][3][4][5]
Name
[edit]GPH is the acronym of "God fearing", "Plain living" and "High Thinking". Ispat is the transliteration of the Bengali word ইস্পাত which means steel.
History
[edit]The company was founded on 17 May 2006 and started its operation in 2008.[6] It was listed as a public limited company in 2012.[5]
In 2016, the company started its expansion project in Sitakunda, Chittagong in association with Primetals Technologies, a joint venture of Siemens VAI and Mitsubishi Heavy Industries & Partners as the equipment supplier. The company invested around US$200 million for the 0.8 MTPY steel manufacturing facility.[7] The new mill uses an electric arc furnace (trade mark Quantum), 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.[8] 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.[9] It purchased 8.85 acres of land for the new factory beside its old steel plant.[10]
It collected term loans of $95 million from ODDO BHF Bank of Germany and $44.2 million from the World Bank, 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.[11] In 2023 and 2024, the company received "SDG Brand Champion Award" in the Responsible Production and Consumption category organised by Bangladesh Brand Forum in association with Aspire to Innovate (a2i).[12][13] In August 2024, the company announced its plans to issue rights shares to raise BDT 242 crore in order to enhance production capacity and meet the increasing demand both locally and internationally.[14]
Environmental issue
[edit]In April 2019, Forest department of Bangladesh Government filed a case against GPH Ispat Limited authorities accusing them of destroying the environment by cutting 15,175 ft3 hills and constructing makeshift dams in a protected area, and by stopping the flow of water in the area, changing course and character of the natural stream and damaging biodiversity that caused heavy financial loss.[15] Later on, GPH Ispat published a clarification through national dailies. According to them, it was a preparatory work of the rain water harvesting project, not makeshift dam.[16]
GPH Ispat filed a revision request against the charge in 2022, which was dismissed by the court on 31 January 2023.[17]
In August 2023, as per request of the company, the case was transferred to the High Court of Bangladesh, which issued a stay order. In June 2024, news reports indicated that the company had constructed a concrete dam in the same natural reservoir, despite the stay order from the High Court remaining in effect.[18]
See also
[edit]References
[edit]- ^ Mufazzal, Mohammad (2019-06-09). "GPH Ispat sees steady growth in net profit, turnover in last three FYs". The Financial Express. Dhaka. Archived from the original on 2019-07-25. Retrieved 2019-07-25.
- ^ "GPH, German company reach agreement". Daily Sun. Dhaka. 2017-08-25. Archived from the original on 2019-07-25. Retrieved 2019-07-25.
- ^ "CCC, GPH Ispat sign pact to beautify the port city". Daily Asian Age. Dhaka. 2018-11-18. Retrieved 2019-07-25.
- ^ "GPH Ispat signs deal with a foreign firm for expansion". The Daily Star. Dhaka: The Daily Star (Bangladesh). 2016-01-16. Archived from the original on 2019-07-25. Retrieved 2019-07-25.
- ^ a b "GPH Ispat to invest Tk 1,700cr for expansion". The Daily Star. Dhaka. 2016-01-14. Archived from the original on 2019-07-25. Retrieved 2019-07-25.
- ^ "GPH Ispat". GPH Ispat. 2018-01-14. Archived from the original on 2019-07-25. Retrieved 2019-07-25.
- ^ "GPH Ispat signs deal with a foreign firm for expansion". The Daily Star. 2016-01-21. Retrieved 2019-09-27.
- ^ "Primetals Technologies to supply new Minimill with EAF Quantum and WinLink to GPH Ispat in Bangladesh". SteelGuru India. Retrieved 2019-10-11.
- ^ "GPH Ispat secures $154m in biggest syndicated loan". The Daily Star. 2016-05-29. Retrieved 2019-10-11.
- ^ "GPH Ispat opens Tk 2,390cr plant, stocks shoot up". The Daily Star. 2020-09-07. Retrieved 2020-10-20.
- ^ "GPH Ispat to ship 25,000 tonnes of billet to China". The Daily Star. 2020-10-14. Retrieved 2020-10-20.
- ^ "GPH ispat wins SDG brand champion award 2024". The Business Standard. 11 September 2024. Retrieved 16 September 2024.
- ^ "GPH Ispat wins SDG Brand Champion Award 2023". The Daily Star. 30 May 2023. Retrieved 16 September 2024.
- ^ "GPH Ispat plans to raise Tk242cr for business expansion". The Business Standard. 25 August 2024. Retrieved 28 September 2024.
- ^ "Dam makeshift, damage extensive". The Daily Star. 2019-04-28. Retrieved 2019-09-27.
- ^ GPH Ispat (2019-04-30). "Clarification". The Daily Star. Retrieved 2019-10-11.
- ^ "Cutting forests, building dam: Case against GPH Ispat ready for trial after 5-year". The Business Standard. 8 June 2023. Retrieved 15 June 2023.
- ^ Nasir Uddin Rocky (4 June 2024). এবার পাহাড়ি ছড়ায় 'কংক্রিটের বাঁধ' নির্মাণ করেছে জিপিএইচ ইস্পাত. Bangla Tribune (in Bengali). Retrieved 2024-06-08.