In order to meet the gap in Bangladesh's demand for flat products, Bashundhara Multisteel Industries Limited, the steel division of Bashundhara Group, one of the country's largest business conglomerates, signed a contract with SMS group to install an integrated facility to produce more than two million tons of hot rolled coils annually. Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), Mirsharai, Chattogram is where the factory would be situated. The capacity of this facility can be increased to four million tons yearly in the future.
The well-established cutting-edge CSP technology will be installed by SMS group, a global leader in iron and steel technologies, to manufacture hot rolled coils with a meltshop upstream and other auxiliary equipment.
Through knowledge transfer and training, the technicians in the local industry will also advance their skills in conjunction with this initiative.
To organize the funding for this massive project, the two teams are now collaborating with the German and Bangladeshi banking consortiums as well as the German Export Credit Agency Euler Hermes.
Bangladesh's extraordinary narrative of economic growth has led to it being one of the Asia Pacific region's fastest rising economies. To fulfill the needs, particularly from infrastructure projects, increased urbanization, and the shipbuilding sector, the steel industry is also expanding at a similar rate. Despite the fact that long goods make up the majority of the nation's steel manufacturing, flat products are becoming more and more popular.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.