News Room - Steel Industry

Posted on 04 Feb 2025

BSRM opens eco-friendly steel plant

BSRM, one of Bangladesh’s largest steel manufacturers, has officially inaugurated its new eco-friendly steel plant in Mirsharai, Chittagong, Kallanish notes.

The plant, backed by a $50 million loan from Japan International Cooperation Agency (JICA), will boost the country’s steel production capacity.

The facility, which opened on 1 February, will add 500,000 tonnes of rebars, 100,000t of wire rods, and 250,000t of billets/year.

Equipped with advanced environmental technology, the plant is set to reduce GHG emissions by 10,000 tonnes/y. Additionally, it will adhere to circular economy principles by repurposing slag and ensuring 100% reuse of process water. The plant also features an advanced air pollution control system, rooftop solar panels, and energy-efficient production methods.

JICA regards this project as a major milestone for Bangladesh’s private sector, marking its first corporate loan in the country. The initiative is expected to create jobs, strengthen local industries, and encourage foreign investment.

BSRM, which specialises in high-quality rebar and other steel products for construction and infrastructure, has a melting capacity of 1.8 million t/y and a rerolling capacity of 1.6m t/y.

For the second quarter, BSRM recorded sales of BDT 25,472m ($250m), an 18% increase year-on-year. However, net income decreased by 16% to BDT 905.2m. For the first half of the year, sales rose to BDT 40,716m, up 12% y-o-y with net income increasing 15% y-o-y.

Source:Kallanish