Bangladesh-based Anwar galvanizing has announced a capacity expansion plan. The manufacturer plans to double its production capacity by 2022 to cater to the increasing demand for galvanised iron (GI) pipe fittings in the country.
Robust demand from infrastructure projects from both public and private sectors in the past few years has increased the domestic consumption of these pipes. Also due to the pandemic, import from China has decreased significantly, which prompted the company to invest in expansion, said a company representative to local media.
The company aims to expand its market share in the GI Fittings segment to more than 50pc from the existing 25pc.
Anwar galvanizing will invest BDT270mn ($3.19mn) for the project which will increase its annual capacity to produce galvanised corrugated sheets and iron fittings to 4,725mt.
The company has also received a green signal from Dhaka Electric Supply for an additional power supply of 1MW to support the expansion.