BSRM to set up 2nd re-rolling plant in Ctg

BSRM Steels Limited, a game-changer in steel industry in Bangladesh, will establish its 2nd re-rolling plant in BSRM Industrial Estate, Mirsarai, Chattogram.
The plant will have additional capacities of 250 thousand (2.50 lakh) tonnes of billets, 100 thousand tonnes of wire rod and 500 thousand tonnes of rebars. Also from the roof of the new re-rolling mill, a solar power project is expected to generate around 3 MW of electricity annually.
A loan agreement signing ceremony was held in Dhaka recently for USD 108 million and BDT 8,000 million loans for this purpose. JICA and IDCOL, the major financiers, Indian EXIM Bank, Standard Chartered Bank Singapore, BRAC Bank Limited, Eastern Bank PLC, Prime Bank Limited and The City Bank Limited are the other financiers. Meghna Bank Limited and NRB Commercial Bank Limited provided guarantee against the finance from IDCOL.
Standard Chartered Bank is working as the Sole Mandated Lead Arranger, Structuring and Coordinating Bank for USD Syndicated Loan & Agent. The Charge d'Affaires of Japan Embassy, Tatsuya Machida, was present on this occasion. Aameir Alihussain, Managing Director of BSRM Group, signed the loan agreement on behalf of BSRM Steels. Along with the representatives from all the participating financiers, CEO of Standard Chartered Bank Bangladesh, Naser Ezaz Bijoy, ICHIGUCHI Tomohide, Chief Representative of JICA Bangladesh Office, Executive Director & CEO of IDCOL Alamgir Morshed, and Managing Director & CEO of Meghna Bank Limited Sohail R. K. Hussain also were present.