An environment friendly steel plant of Bangladesh Steel Re-Rolling Mills Limited was built in Chattogram under the Private Sector Investment Finance scheme of Japan International Cooperation Agency.
The new plant, located at Mirsharai, supported by a $50 million dollars loan signed in October 2023, represents JICA鈥檚 8th PSIF transaction, was inaugurated on Saturday.聽聽
The plant will add 5,00,000 tonnes per annum of rebars, 1,00,000 tonnes per annum of wire rods, and expand billet production by 2,50,000 tonnes per annum, said a JICA press release.
By reducing dependency on imported steel, JICA said, the facility will help stabilise the country鈥檚 trade balance while generating more than 500 new employment opportunities and supporting the development of local industries.
Industries adviser Adilur Rahman Khan, Italian ambassador to Bangladesh Antonio Alessandro, Chattogram City Corporation mayor Shahadat Hossain, JICA chief representative in Bangladesh Ichiguchi Tomohide and BSRM chairman Ali Hussain Akber Ali attended the inauguration ceremony.
鈥榃e hope that the inauguration of this new plant will serve as a symbolic milestone to develop Bangladesh鈥檚 industries further, attracting increased foreign investment to Bangladesh,鈥� said JICA鈥檚 chief representative.
He said that this project exemplified JICA鈥檚 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鈥檚 commitment to environmental stewardship.
JICA remains committed to fostering a sustainable industrial ecosystem in Bangladesh, said the release.