Bangladesh’s largest rebar producer Bangladesh Steel Re-Rolling Mills (BSRM) Limited has commissioned its new environmentally friendly steel plant in Chittagong, according to media reports. Japan International Cooperation Agency (JICA) and BSRM had inked a loan agreement worth $50 million in October 2023 for the construction of the plant.
The plant, which was funded by the Private Sector Investment Finance scheme under JICA, will increase BSRM’s rebar production capacity by 500,000 mt, its wire rod production capacity by 100,000 mt and its billet production capacity by 250,000 mt per year. In the meantime, rooftop solar power plants and other eco-friendly technologies were installed during the construction, reducing the carbon emissions by 10,000 mt per year.
JICA stated that the plant will reduce BSRM’s dependence on import steel, supporting Bangladesh’s trade balance and other local industries.