Indian Sponge Iron Exports Increasing on Rising Melting Capacities in Bangladesh
Mining News Pro - Sponge iron exports from India to Bangladesh are continuously rising, with ramping up steel production capacities in Bangladesh.

According to Mining News Pro -According to custom data, Indian sponge iron exports to Bangladesh registered sharp growth on yearly premises, since 2013.

Bangladesh continued to be the India`s largest Sponge iron importer which procures material through the sea or dry port (via road route). The major exports are made from India`s east region (Jharkhand, Odisha & West Bengal) as the logistic is easy due to better connectivity with Bangladesh.

India`s sponge iron export to Bangladesh were about 80,560 MT in 2014, which in 2015 moved up by 47.03% and stood at 118,451 MT.

Similarly growth continued in the year passing as the India`s sponge exports to Bangladesh stood at 238,404 MT in 2016 & 254,663 MT in 2017.

Meanwhile in 2018 (Jan-Jul) exports to Bangladesh have recorded at 209,750 MT. Thus its expected that the figure might cross 350,000 MT by the end of year (Jan-Dec 2018).

With increasing steel demand, the leading steel manufacturers in the Bangladesh are going to make fresh investment in establishing new plants to expand their capacities.

Leading steel manufacturers like Bangladesh Steel Re-Rolling Mills (BSRM), KSRM and PHP Group are going to increase their production capacity with setting up new factories in Mirsharai Economic Zone, Bangladesh.

According to reports, these three groups have submitted investment proposal of USD 5029 million in setting up new factories in their expected lands in Mirsharai EZ to produce steel and steel products as part of their business expansion, said BEZA sources.

According to the proposals, BSRM group has submitted two separate investment proposals to invest USD 59.45 million and sought some 100 acres of land in Mirsharai economic zone’s sector- 4 for iron plant and USD 180 million for another steel mill factory over 40 acres of land for establishing iron plant and steel mill shop.

Another market leader KSRM is interested to build steel and cement plants in Mirsharai over 250 acres of land and planned to invest USD 789 million for the new venture.

PHP Steel Works Ltd, a concern of PHP group, is going make a big investment of USD 4000 million for establishing a new steel factory and sought 500 acres of land in Mirsharai from BEZA.

BEZA sources said that the proposals have been evaluated and awaiting contract signing for materialising the projects.

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