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BSRM is set to launch a new $108 million plant in Chattogram’s Mirsarai by late June or early July, aiming for an annual production capacity of 8 lakh tonnes to boost its local market share from 23% to 34%. The facility, nearing completion on 20 acres, will create approximately 1,000 jobs. Financing includes a $50 million loan from Jica for green industrialisation, alongside loans from Exim Bank, Standard Chartered Bank, and BRAC Bank. BSRM’s total production capacity will increase to 24 lakh tonnes with the new plant, which will also produce 150,000 tonnes of steel wires annually to reduce import dependence. Known for environmental initiatives, BSRM achieves zero emissions with Japanese APC systems, recycles water and slag waste, and plans to install 10MW of solar power. The company, operational since 1952, generated $1.691 billion revenue in 2022-23 and employs 5,000 directly and 25,000 indirectly. Bangladesh’s steel sector includes 55 re-rolling mills producing 70-75 lakh tonnes annually, with 60% used in government projects.
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