ZCZC
BSS-26
GAZI-WIRE-PROFIT
Gazi Wires Limited maintains profit trend
DHAKA, April 26, 2020 (BSS) – Gazi Wires Limited, a company of the Bangladesh Steel and Engineering Corporation (BSEC), has maintained the trend of profit by manufacturing world-class super enamel copper wire in the country.
“The factory produces 99.99 percent super enamel copper wire using Japanese high quality electrolytic copper wire and insulating varnish of the Hitachi. As a result, Gazi Wires has maintained the trend of profit by supplying international quality copper wire as per the demand of government and non-government organizations,” said an Industries Ministry press release issued today.
According to the BSEC, Gazi Wires Limited has given Taka 17.47 crore, Taka 17.82 crore, Taka 19.55 crore, Taka 16.47 crore, Taka 21.13 crore and Taka 9.27 crore to the government treasury as revenue during the financial year 2014-15 to 2019-20, respectively.
During the period, the company has made profit of Taka 11.98 crore, Taka 15.88 crore, Taka 16.43 crore, Taka 8.83 crore, Taka 8.26 crore and Taka 1.25 crore respectively.
Acting Managing Director of Gazi Wires Dr Md Golam Kabir said in order to increase the production capacity of this factory, Gazi Wires Limited purchased a vertical enameling machine with a production capacity of 250 metric tonnes from Italy at a cost of about Taka 8.68 crore.
According to BSEC, Bangladesh Rural Electrification Board (REB) is the biggest buyer of Gazi Wires Limited. Besides, various government and non-government organizations, including Power Development Board (PDB), Dhaka Power Distribution Company (DPDC), Dhaka Electric Supply Company Limited (DESCO), Power Grid Company of Bangladesh (PGCB) and Barindra Development Project, purchase the electrical wires produced in the factory.
The copper of Gazi Wires is mainly used for making and repairing various electrical equipments including transformers and electric motors.
BSS/PR/KUC/GA/1620 hrs