Loss mounts to Tk1,200cr for steel makers
Bangladesh currently has over 120 steel re-rolling, semi and auto, and manual mills. They collectively produce 1.10 crore tonnes of steel per year. So, over 20,000 tonnes of steel are produced in the country every day.
Sumon Chowdhury, general secretary of the Bangladesh Steel Manufacturers Association, said production has been off since Friday and the total loss in the industry has mounted to Tk1,200 crore.
"We are unable to release raw materials from ports, get supply from shipbreakers, and also can't conduct any transactions," he said.
Bangladesh currently has over 120 steel re-rolling, semi and auto, and manual mills. They collectively produce 1.10 crore tonnes of steel per year. So, over 20,000 tonnes of steel are produced in the country every day.
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Mizanr Rahman Babul, vice president of the Bangladesh Re-rolling Mill Association, told TBS that all the 22 active manual mills have been shut for the last four days.
Although, they are not in production, they still have to cover gas, electricity, and wage expenses. "This is causing heavy burden to the factory owners."
