9,226.86 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.37 USD USD USD
36.50 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.75 TRY Interest Interest
72.08 USD Fossil Oil Fossil Oil
33.53 USD Silver Silver
4.12 USD Copper Copper
101.57 USD Iron Ore Iron Ore
375.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,880.53 TRY Gold (gr) Gold (gr)

Bangladeshi company BSRM launches new plant

BSRM, the largest construction steel producer in Bangladesh, is preparing to commission its USD 217 million plant in Mirsarai, Chattogram, with an annual production capacity of 800,000 tons in late June or early July.

Bangladeshi company BSRM launches new plant

The plant aims to increase BSRM's market share from 23% to 34% and meet the growing demand for steel. The 20-acre plant, which is almost complete, will start trial production at the end of June and will be in full commercial production within a month. The plant is expected to create around 1,000 jobs.

BSRM's total production capacity will increase to 2.4 million tons with the new plant, significantly increasing its market dominance. The new plant will also produce 150,000 tons of steel wire, reducing the need to import 85,000 tons annually.

The company generated revenues of USD 1.691 billion in FY 2022-23, directly and indirectly employing around 30,000 people. Bangladesh's steel industry produces 7-7.5 million tons of steel annually through 55 rolling mills and more than 100 semi-automatic and manual plants, 60% of which is consumed by government projects. 

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Asian ship recycling countries strengthen efforts to comply with Hong Kong Convention

Wednesday, November 13, 2024

Vietnam decides to lift AD duties on imported cold-rolled steel products

Wednesday, November 13, 2024

China and Indonesia form USD 10 billion partnership for green energy and technology innovation

Wednesday, November 13, 2024

Baosteel decides to keep HRC prices stable for december

Wednesday, November 13, 2024

Japan's NSSC cuts nickel-based steel prices for November sales

Wednesday, November 13, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now