BPDB restores power supply to RSRM factory after eight months
Since January 2021, the two manufacturing plants of the RSRM have been shuttered as they have had their power supply cut off due to nonpayment of outstanding electricity bills amounting to Tk40 crore
Bangladesh Power Development Board (BPDB) has restored power supply connections to Chattogram based RSRM (Ratanpur Steel Re-Rolling Mills Ltd) factory after eight months.
Since January 2021, the two manufacturing plants of the RSRM have been shuttered as they have had their power supply cut off due to nonpayment of outstanding electricity bills amounting to Tk40 crore.
Badhan Basak, general manager (Commercial) at BPDB, said, "By this time, the company has paid around Tk10 crore in instalments and then the board authorities have restored the power supply in full."
Keep updated, follow The Business Standard's Google news channel
Now the company can go into production.
Founded in 1984, Ratanpur Group has established itself as one of the leading steel companies based in Chattogram. The industrial group has an annual turnover of around Tk700 crore.
The company's electricity bills were in arrears for quite a long time. Because of this, its electricity connections had been severed earlier as well. But the company twice managed to obtain orders from the High Court to pay the unpaid bills in instalments.
As the company failed to pay the bills in instalments as well, the power connection was cut off again in January 2021 and the company went to the High Court to pay the outstanding amount in instalments. Again, it received an order from the High Court to pay the bills in instalments.
Marjanur Rahman, director of Ratanpur Group, also confirmed that around a week ago they got a full-fledged electricity connection and the factory is under maintenance. RSRM, one of the leading steel manufacturing companies in Bangladesh, produces MS Rods.
