JICA-funded BSRM steel plant inaugurated in Ctg
FE REPORT | Sunday, 2 February 2025
An environment friendly steel plant of Bangladesh Steel Re-Rolling Mills (BSRM) Limited was inaugurated on Saturday.
The plant, funded by the Japan International Cooperation Agency (JICA), is located at Mirsharai in Chattogram.
The inaugural ceremony marked a significant milestone for the private sector of Bangladesh, according to a press release.
The project, supported by a USD $ 50 million loan signed in October 2023, represents JICA's eighth Private Sector Investment Finance (PSIF) transaction and its first corporate loan project in Bangladesh.
Advisor to the ministry of industries and housing and public works Adilur Rahman Khan, Italian Ambassador to Bangladesh Antonio Alessandro, Mayor of Chattogram City Corporation Dr Shahadat Hossain, Chairman of BSRM Alihussain Akberali and Chief Representative of JICA Bangladesh office ICHIGUCHI Tomohide were present at the programme.
JICA recognizes that a strong domestic steel industry is crucial for infrastructure development and economic resilience. The new BSRM plant will add 500,000 metric tons per annum (MTPA) of rebars, 100,000 MTPA of wire rods and expand billet production by 250,000 MTPA.
By reducing dependence on imported steel, the facility will help stabilize the country's trade balance while generating more than 500 new employment opportunities and supporting the development of local industries.
"This project exemplifies JICA's dedication to partnering with leading companies like BSRM to drive industrial advancement in Bangladesh," said ICHIGUCHI Tomohide.
"We hope that the inauguration of this new plant will serve as a symbolic milestone to develop Bangladesh's industries further, attracting increased foreign investment to Bangladesh," he said.
Beyond financing, JICA prioritizes sustainable and responsible industrial growth. The BSRM plant incorporates cutting-edge environmental technologies, including an advanced Air Pollution Control (APC) system to ensure clean air emissions and a water treatment and recycling facility that achieves 100 per cent process water for reuse. Through the integration of rooftop solar power plants and energy-efficient production methods, the factory will mitigate climate change by reducing greenhouse gas (GHG) emissions by 10,000 tons (CO2 equivalent) per year.
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