Steel Guru
Eastern cables dropped Aluminium rod production project
Edited by : AL CIRCLE
2 min read
Eastern Cables has made good performance in the last years with the sale and production target exceeding. But the state run cable manufacturing plant at Patenga in the port city of Chittagong has dropped a proposed plan to set up an Aluminium rod manufacturing plant due to lack of fund.
Sources in the plant said that it had proposed to set up the aluminum rod production plant 2 years back at an estimated cost of BDT 150 million. The proposed project was sent to concerned authorities of the government.
An insider said that Eastern Cables Limited is yet to get any financial support from the government or other donor agencies for the project for which it has been dropped temporarily. The Aluminium rod manufacturing unit was undertaken as it is the major raw material for cable manufacturing, now being imported from abroad. The ECL earned BDT 1.3091 billion in the financial year 2011 to 2012 against the sale target of BDT 1.24 billion, the pretax amount of profit being BDT 67.5 million.
During the just concluded financial year the cable manufacturer produced 3502 metric tons of different kinds of cables and conductors against the target set by the government at 3500 MT. However, the sale of cables and conductors fell a little short of target. The sale target in the year was 3500 MT but the company sold 3472 MT, the value of which was BDT 1.1182 billion.
Sources said that in the year 2010-11 the ECL made the highest profit at BDT 86.5 million from the sale proceeds of BDT 1.2256 billion against the sale target of 1.04 billion growth in sale by 35.47%. The company has paid BDT 1.2813 billion in the last six financial years since 2005 2006.
Mr. Md Fakhrul Islam additional chief engineer of the ECL said that more than 50% of the products are sold to the government organizations like Power Development Board, DESA, Dhaka Power Development Company Limited, Rural Electrification Board etc.
He said that "We produce goods on the requisitions provided by these government agencies. We take part in the local and international tenders for supply of different types of cables and conducts and get the orders after competing in the tenders."
Sources in the plant said that it had proposed to set up the aluminum rod production plant 2 years back at an estimated cost of BDT 150 million. The proposed project was sent to concerned authorities of the government.
An insider said that Eastern Cables Limited is yet to get any financial support from the government or other donor agencies for the project for which it has been dropped temporarily. The Aluminium rod manufacturing unit was undertaken as it is the major raw material for cable manufacturing, now being imported from abroad. The ECL earned BDT 1.3091 billion in the financial year 2011 to 2012 against the sale target of BDT 1.24 billion, the pretax amount of profit being BDT 67.5 million.
During the just concluded financial year the cable manufacturer produced 3502 metric tons of different kinds of cables and conductors against the target set by the government at 3500 MT. However, the sale of cables and conductors fell a little short of target. The sale target in the year was 3500 MT but the company sold 3472 MT, the value of which was BDT 1.1182 billion.
Sources said that in the year 2010-11 the ECL made the highest profit at BDT 86.5 million from the sale proceeds of BDT 1.2256 billion against the sale target of 1.04 billion growth in sale by 35.47%. The company has paid BDT 1.2813 billion in the last six financial years since 2005 2006.
Mr. Md Fakhrul Islam additional chief engineer of the ECL said that more than 50% of the products are sold to the government organizations like Power Development Board, DESA, Dhaka Power Development Company Limited, Rural Electrification Board etc.
He said that "We produce goods on the requisitions provided by these government agencies. We take part in the local and international tenders for supply of different types of cables and conducts and get the orders after competing in the tenders."
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