Bangladesh Steel and Engineering Corporation

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[1]

Bangladesh Steel and Engineering Corporation
বাংলাদেশ ইস্পাত ও প্রকৌশল কর্পোরেশন
Formation1st July 1976
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
WebsiteBangladesh Steel and Engineering Corporation

Bangladesh Steel and Engineering Corporation (Bengali: বাংলাদেশ ইস্পাত ও প্রকৌশল কর্পোরেশন) or BSEC,[1] is a government owned corporation in Bangladesh.[2][3]

History[edit]

Bangladesh Steel & Engineering Corporation (BSEC) were formed by the amalgamation of the then Bangladesh Steel Mills Corporation and Bangladesh Engineering & Shipbuilding Corporation under Bangladesh Industrial Enterprises (Nationalisation, 2nd Amendment) Ordinance, 1976. Bangladesh Steel & Engineering Corporation Initially started functioning with 62 (sixty two) enterprises. Afterward BSEC established one industry named Bangladesh Blade Factory Ltd. (BBFL) in 1984. Presently BSEC has only 9 (nine) industrial enterprises in operation amongst which 49% shares of 3 (three) enterprises viz, Atlas Bangladesh Ltd., National Tubes Ltd. &  Eastern Cables Ltd. have been offloaded  to the general public and employees of the respective companies. Enterprises under Bangladesh Steel & Engineering Corporation have been playing an important role in the economic development of the country as they produce Electric Cables, Domestic Cables, Transformers, Lightning Arrestor, Drop Out Fuse Cut Out (DOFC), Disconnector, LT Switchgear, HT Switchgear, PFI Plant, Tube Light, CFL Bulb and Super Enamelled Copper Wire etc. and thereby contribute substantially to electrification of the country. BSEC has also contributed to the road transport sector since it has been assembling Bus, Truck, Jeep, Motor Cycle, Mishuk etc. Enterprises of BSEC also produce MS/GI/API Pipe and Safety Razor Blade. In the financial year 2017-2018 BSEC enterprises produced goods worth Tk.672.40 crore and sold goods worth of Tk.864.13 crore while enables to earn net profit (Before Tax) of Tk.73.67 crore. BSEC also paid TK.277.67 crore to the National Exchequer as VAT & Taxes.

Bangladesh Steel and Engineering Corporation was founded on 1 July 1976.[4] It is in charge of Pragoti, which assembles mahindra cars in Bangladesh.[5] In 2016 it signed an agreement with Honda to assemble motorcycles in Bangladesh.[6][7] It handed over its Dockyard and Engineering Works in Narayanganj to Bangladesh Navy.[8] It owns Chittagong Dry Dock in Chittagong, Bangladesh. In 2016 the government announced plans to build naval ships in Chittagong Dry Dock.[9] It build a six opening footbridge in Sylhet.[10] It also owns GEMCO, a wire manufacturer, and National Tubes in Gazipur.[11] Its headquarters is the BSEC building in Kawran Bazar, which also houses the headquarters of RTV, NTV and Amar Desh.[12]

References[edit]

  1. ^ "Government to cancel allocation of unused BSCIC industrial plots". dhakatribune.com. Dhaka Tribune. 14 August 2016. Retrieved 8 October 2016.
  2. ^ "Bike sales punctured by duty hike, high registration fees". thedailystar.net. The Daily Star. 15 November 2015. Retrieved 8 October 2016.
  3. ^ "Bangladesh Steel & Engineering Corporation: Private Company Information - Businessweek". bloomberg.com. Bloomberg. Retrieved 8 October 2016.
  4. ^ "Bangladesh Steel & Engineering Corporation". bsec.gov.bd. Retrieved 8 October 2016.
  5. ^ "Pragoti rolls out assembly of Mahindra SUVs". thedailystar.net. The Daily Star. 13 May 2016. Retrieved 8 October 2016.
  6. ^ "Bikes For Bengalis: Japan's Honda Operating Motorcycle Plant In Bangladesh". ibtimes.com. International Business Times. 4 March 2014. Retrieved 8 October 2016.
  7. ^ "Honda may invest $60m in motorcycle plant". thedailystar.net. The Daily Star. 26 July 2016. Retrieved 8 October 2016.
  8. ^ "Bangladesh outlines plans to develop naval shipbuilding capability | IHS Jane's 360". www.janes.com. Retrieved 8 October 2016.
  9. ^ "Prime minister says warships will be build locally for Bangladesh Navy". bdnews24.com. Retrieved 8 October 2016.
  10. ^ "Lone footbridge remains unused in Sylhet city". thedailystar.net. The Daily Star. 22 May 2016. Retrieved 8 October 2016.
  11. ^ "Saudi co in tie-up talks with BSEC entity". thefinancialexpress-bd.com. The Financial Express Online Version. Retrieved 8 October 2016.
  12. ^ "Fire at BSEC building doused". thedailystar.net. The Daily Star. 31 October 2014. Retrieved 8 October 2016.