Bangladeshi steelmaker Bangladesh Steel Re-Rolling Mills Ltd. (BSRM) will start trial production at its new steel plant in Chattogram (Chittagong) by late June or early July this year, according to media reports. The new plant worth $217 million is aimed at boosting the company’s market share to 34 percent from 23 percent.
The plant will have an annual production capacity of 800,000 mt, increasing BSRM’s total production capacity to 2.4 million mt. The new steel plant, which will create 1,000 jobs, and will enhance the company’s steel wire production capability, therefore reducing the country’s imports.