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Steel consumption in Bangladesh is anticipated to rise by 25% to approximately 1.06 crore tonnes by 2027, up from 85 lakh tonnes in 2024, driven by infrastructure projects and individual demand. Six major conglomerates, including Meghna, PHP, Bashundhara, and Anwar groups, are investing heavily in new steel mills and expanding production capacities. Meghna Group is investing $400 million for a plant producing 14 lakh tonnes annually. PHP Group plans a factory with 30 lakh tonnes capacity, while Bashundhara Group’s investment of $500 million will yield over 20 lakh tonnes yearly. Anwar Group aims to boost market share with a Tk 4,000 crore investment. Currently, 40 steelworks with a combined capacity of 90 lakh tonnes exist, whereas demand is 85 lakh tonnes annually. By 2027, production capacity is expected to reach 1.30 crore tonnes, with Chattogram possessing 62% of melting capacity and Dhaka 32%. Industry experts predict a further 30 lakh tonnes demand within three years, with a corresponding 20 lakh tonnes increase in scrap steel requirement for rod manufacturing. Bangladesh presently imports 55 lakh tonnes of scrap steel yearly, a figure set to rise due to growing demand and production capacity.
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