Local media reported that state owned Bangladesh Steel and Engineering Corporation has taken initiatives to set up a modern and combined steel mill with latest technology in a bid to make stabilize rebar prices in country. Bangladesh Government’s Parliamentary Standing Committee on Industries Ministry announced that the move for the establishment of the standard factory came as part of modernizing Dhaka Steel Works Limited. State-owned re-rolling mill, Dhaka Steel Works Limited in Gazipur restarted its operation in 2018 after remaining shut for 24 years. Dhaka Steel Works Limited was nationalised in 1972 at the order of then President. Bangladesh Steel and Engineering Corporation took the responsibility to manage the factory situated in Gazipur. Later, in 1994, the then BNP government shut it down. In 2016, the resumption process of the factory started following the declaration of Prime Minister Ms Sheikh Hasina & concerned government agencies were later requested to provide gas, electricity and water connections to the factory for its revival.Kawran Bazar headquartered Bangladesh Steel and Engineering Corporation was founded in 1976 by the amalgamation of the then Bangladesh Steel Mills Corporation and Bangladesh Engineering & Shipbuilding Corporation. It is in charge of Pragoti, which assembles Mahindra cars in Bangladesh. In 2016 it signed an agreement with Honda to assemble motorcycles in Bangladesh.It handed over its Dockyard and Engineering Works in Narayanganj and Chittagong Dry Dock Limited in Chattogram to Bangladesh Navy. It also owns GEMCO, a wire manufacturer, and National Tubes in Gazipur.