The Financial Express
Eastern Cables drops aluminium rod manufacturing plant
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.
Sources said that it had proposed to set up the aluminum rod production plant two years back at an estimated cost of Tk 150 million. The proposed project was sent to concerned authorities of the government.
Eastern Cables Ltd is yet to get any financial support from the government or other donor agencies for the project, for which it has been dropped temporarily, an insider said, adding that 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 Tk 1.3091 billion in the financial year 2011-12 against the sale target of Tk 1.24 billion, the pre-tax amount of profit being Tk 67.5 million, sources said.
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 Tk 1.1182 billion.
In the year 2010-11 the ECL made the highest profit at Tk 86.5 million from the sale proceeds of Tk 1.2256 billion against the sale target of 1.04 billion, a growth in sale by 35.47%, sources said.
The company has paid Tk 1.2813 billion in the last six financial years since 2005-06, data available with the ECL said.
Additional Chief Engineer of the ECL Md Fakhrul Islam told the FE that more than 50% of the products are sold to the government organizations like Power Development Board, DESA, Dhaka Power Development Co Ltd, Rural Electrification Board etc.
"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," he said.
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.
Sources said that it had proposed to set up the aluminum rod production plant two years back at an estimated cost of Tk 150 million. The proposed project was sent to concerned authorities of the government.
Eastern Cables Ltd is yet to get any financial support from the government or other donor agencies for the project, for which it has been dropped temporarily, an insider said, adding that 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 Tk 1.3091 billion in the financial year 2011-12 against the sale target of Tk 1.24 billion, the pre-tax amount of profit being Tk 67.5 million, sources said.
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 Tk 1.1182 billion.
In the year 2010-11 the ECL made the highest profit at Tk 86.5 million from the sale proceeds of Tk 1.2256 billion against the sale target of 1.04 billion, a growth in sale by 35.47%, sources said.
The company has paid Tk 1.2813 billion in the last six financial years since 2005-06, data available with the ECL said.
Additional Chief Engineer of the ECL Md Fakhrul Islam told the FE that more than 50% of the products are sold to the government organizations like Power Development Board, DESA, Dhaka Power Development Co Ltd, Rural Electrification Board etc.
"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," he said.
Previous article
Guala Closures to acquire South African metal closure division
Next articleResearch to develop aluminium alloys for lightweight vehicles
Grow with
AL Circle
