Bangladesh Steel Re-Rolling Mills (BSRM) Limited constructed an environmentally friendly steel facility in Chattogram with the Japan International Cooperation Agency’s (JICA) Private Sector Investment Finance (PSIF) program.
According to a JICA press release here, the new plant in Mirsharai, which is backed by a US $50 million loan signed in October 2023, is JICA’s eighth PSIF transaction. It was opened today.
It further stated that the factory will increase billet output by 250,000 MTPA and add 500,000 metric tons per annum (MTPA) of rebar and 100,000 MTPA of wire rods.
By reducing dependency on imported steel, JICA said, 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.
The inauguration ceremony was attended by BSRM Chairman Ali Hussain Akber Ali, JICA Chief Representative in Bangladesh Ichiguchi Tomohide, Chattogram City Corporation Mayor Dr. Shahadat Hossain, Italian Ambassador to Bangladesh Antonio Alessandro, and Industries Advisor Adilur Rahman Khan.
As the Japanese foreign aid organization acknowledges that a robust domestic steel industry is essential for infrastructural development and economic resilience, the ceremony represented an important milestone for JICA’s support of Bangladesh’s private sector, according to the announcement.
“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,” said JICA’s Chief Representative.
He said that this project exemplified JICA’s dedication to partnering with leading companies like BSRM to drive industrial advancement in Bangladesh.
JICA said that the BSRM plant incorporated 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 achieved 100 percent process water 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.
Additionally, the plant promotes a circular economy by repurposing slag from steel production for construction use.
These initiatives contribute to Sustainable Development Goals (SDGs) 7 (Affordable and Clean Energy), 9 (Industry, Innovation, and Infrastructure), and 13 (Climate Action), reinforcing JICA’s commitment to environmental stewardship.
JICA remains committed to fostering a sustainable industrial ecosystem in Bangladesh, said the release.
