RSRM to resume production on 4 October
Ratanpur Steel Re-Rolling Mills (RSRM) Limited is going to resume its steel production from 4 October.
As per Dhaka Stock Exchange (DSE) query, the company informed that the production was shut down causing the power sub-station damaged.
Due to the pandemic situation of Covid-19, this process has taken a long time to complete.
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The company has already repaired the damaged substation and the power supply is available now.
Founded in 1984, Ratanpur Group has established itself as one of the leading steel companies based in Chittagong. The industrial group once had an annual turnover of around Tk700 crore.
One of its non-listed companies, Ratanpur Ship Recycling Industries enabled the group to source scraps from its own shipbreaking yard, while Modern Steel Mills was founded to make billets out of scrap metals to cater to the construction rod plant owned by the listed company.
In 2014, RSRM Ltd was listed in the bourses, and according to DSE, the company has its short-term loans of Tk87 crore while the long-term loans total over Tk91 crore.
Sponsors and directors jointly hold 47.03% shares, institute 19.50%, and General investors hold 33.47% of the company.
The share price of the company at DSE was Tk33.30 on Thursday.
