10,727.58 TRY BIST 100 BIST 100
36.60 USD USD USD
5.09 CNY CNY CNY
39.76 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
37.05 TRY Interest Interest
70.45 USD Fossil Oil Fossil Oil
33.88 USD Silver Silver
4.94 USD Copper Copper
104.46 USD Iron Ore Iron Ore
351.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,518.13 TRY Gold (gr) Gold (gr)

Bangladesh begins climate-friendly steel production

Bangladesh's first climate-smart steel plant will produce with 100% recycled scrap, reducing carbon emissions and meeting 20% of the country's steel needs.

Bangladesh begins climate-friendly steel production

The International Finance Corporation (IFC), a member of the World Bank Group, is establishing Bangladesh’s first climate-smart steel plant in collaboration with Meghna Re-Rolling & Steel Mills Limited (MRSL), a subsidiary of Meghna Group of Industries (MGI). The plant, which will produce 1.5 million tons of steel per year, will meet 20% of the country’s steel demand using 100% recycled scrap.

This project, implemented with IFC’s USD 100 million financing support, aims to reduce carbon emissions while contributing to the country’s economic growth. Emissions will be minimized by using more environmentally friendly technology compared to traditional production methods.

Stating that Bangladesh’s steel sector is critical for sustainable growth, IFC sees this project as an important step in creating climate-friendly production and job opportunities. The project, which is in line with the global climate finance framework under the Paris Agreement, supports Bangladesh’s transition to greener production practices.

IFC and MRSL also plan to develop a comprehensive roadmap for the decarbonization of the steel sector. This initiative is also in line with the Green, Resilient and Inclusive Development (GRID) vision, which aims to increase sustainable development and industrial competitiveness.

MGI said the project is a milestone for Bangladesh’s industrial development. The company emphasized that the investment will increase high-quality and environmentally friendly steel production capacities and contribute to the country’s economic goals.

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

USA steel imports decreased in February

Tuesday, March 11, 2025

Döktaş Döküm announced loss in 2024

Wednesday, March 12, 2025

Kocaer Çelik closed 2024 with a net profit of TRY 83.1 million

Wednesday, March 12, 2025

House sales in Türkiye increased by 20.1% y/y in February

Thursday, March 13, 2025

EU moves to sustain Ukraine steel imports with new proposal

Friday, March 14, 2025
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