SS Steel to invest Tk 20 crore to expand business

Chattogram-based steel producer SS Steel is going to invest Tk 20 crore to expand its business in the country.

The listed company shared the news through a posting on the website of the Dhaka Stock Exchange today.

The steel maker's board approved the investment for purchasing land, building and capital machineries for business expansion, according to the disclosure.

Earlier in 2020, it planned to acquire Saleh Steel Industries with an investment of Tk 158 crore with the view to occupying a larger portion of the industry.

In early January of 2021, the steel company public another disclosure to buy a 75 per cent stake in Southeast Union Ceramic Industries at a cost Tk 200 crore in an effort to expand its product base in the construction sector.