Nialco Alloys will be expanding its business establishing 2 new plants to manufacture its finished products. It is the only company to be listed on the SME platform of the Chittagong Stock Exchange (CSE). The company expects that it will set up its two new plants in 7 to 9 months.
The company manufactures high grade bronze and high grade ingots. It will be investing Tk2 Crore in an Aluminium Manufacturing Plant and an Aluminium Zinc Recycling Plant on credit from the bank.
As stated by an official of the company, the demand for copper is increasing and the company is not facing any competition in Bangladesh. It exports its products to different countries, especially to Japan and South Korea. It has been stated that the new plants will have capacity to produce 100 tonnes every month.
For this investment, the company will be opening a line of credit L/C with the Mutual Trust Bank (MTB).