Bangladesh: Nialco Alloys plans for two new aluminium finished products facility

The only leading Bangladesh company backed with Korean technology, Nialco Alloy plans to build two new facilities to manufacture finished products to expand its business.

The company is the only one to be listed on the SME platform of the Chattogram Stock Exchange.

Nialco Alloys is a 100% export-oriented company that mainly manufactures high-grade bronze and brass ingots including Phosphorus Bronze, Leaded Bronze, Aluminium Bronze, Manganese Bronze, Sand Cast Brass (SCB), High Tensile Brass (HTB), Die Cast Brass (DCB), Master Alloys, etc.

An official of Nialco Alloys stated:  “The company will invest more than Tk 2 crore (2 crores Bangladeshi taka) in the new plants – an aluminium product manufacturing and an aluminium-zinc recycling plant and the project cost will come from the bank credits.”

"The demand for copper products is increasing globally. Most of the Nialco Alloys products are exported to different countries, especially Japan and Korea, as raw materials. The company has no major competitor in the country," he told added.

However, the production capacity of the new plants will be around 100 tonnes per month.

The company will open an L/C with Mutual Trust Bank Limited, as per the data available with the Chattogram Stock Exchange.

The company also stated that it is expecting to accomplish the set up of the facilities in just seven to nine months.