Bangladesh Steel & Engineering

Bangladesh Steel & Engineering Corporation (BSEC) were formed by the amalgamation of the then Bangladesh Steel Mills Corporation and Bangladesh Engineering & Shipbuilding Corporation under Bangladesh Industrial Enterprises (Nationalisation, 2nd Amendment) Ordinance, 1976. Bangladesh Steel & Engineering Corporation Initially started functioning with 62 (sixty two) enterprises. Afterward BSEC established one industry named Bangladesh Blade Factory Ltd. (BBFL) in 1984. Presently BSEC has only 8 (eight) industrial enterprises in operation amongst which 49% shares of 3 (three) enterprises viz, Atlas Bangladesh Ltd., National Tubes Ltd. & Eastern Cables Ltd. have been offloaded to the general public and employees of the respective companies. Enterprises under Bangladesh Steel & Engineering Corporation have been playing an important role in the economic development of the country as they produce Electric Cables, Transformers, Tube Light, and Super Enamelled Copper Wire etc. and thereby contribute substantially to electrification of the country. BSEC has also contributed to the road transport sector since it has been assembling Bus, Truck, Jeep, Motor Cycle, Mishuk etc. Enterprises of BSEC also produce MS/GI/API Pipe and Safety Razor Blade. In the financial year 2016-2017 BSEC enterprises produced goods worth Tk.594.17 crore and sold goods worth of Tk.724.53 crore while enables to earn net profit (Before Tax) of Tk.76.99. BSEC also paid TK.190.14 crore to the National Exchequer as VAT & Taxes. Vision: Filling internal demand and globalization of the engineering products. Mission: With the help of sustainable technology, the uninterrupted production and marketing of quality engineering products will help in achieving consumer satisfaction and reducing foreign exchange expense through reduction imports.