BSRM, one of Bangladesh’s largest steel manufacturers, has officially opened its new eco-friendly steel plant in Mirsharai, Chittagong. The plant, backed by a $50 million loan from the Japan International Cooperation Agency (JICA), will boost the country’s steel production capacity. The facility, which opened on 1 February, will add 500,000 tonnes of rebars, 100,000 tonnes of wire rods, and 250,000 tonnes of billets annually.

Equipped with advanced environmental technology, the plant aims to reduce greenhouse gas emissions by 10,000 tonnes per year. It will also adhere to circular economy principles by repurposing slag and ensuring 100% reuse of process water. The plant features an advanced air pollution control system, rooftop solar panels, and energy-efficient production methods.

JICA considers this project a major milestone for Bangladesh’s private sector, marking its first corporate loan in the country. The initiative is expected to create jobs, strengthen local industries, and encourage foreign investment.

BSRM, specializing in high-quality rebar and other steel products for construction and infrastructure, has a melting capacity of 1.8 million tonnes per year and a rerolling capacity of 1.6 million tonnes per year. In the second quarter, BSRM recorded sales of BDT 25,472 million ($250 million), an 18% increase year-on-year, though net income decreased by 16% to BDT 905.2 million. For the first half of the year, sales rose to BDT 40,716 million, up 12% year-on-year, with net income increasing by 15% year-on-year.