Bashundhara Multisteel Industries Limited, the Steel Division of Bashundhara Group, one of the largest business conglomerates in Bangladesh, signed a contract with SMS group to install an integrated facility to produce more than two million tons of hot rolled coils annually with the goal of filling the gap in demand for flat products in Bangladesh. The plant will be located at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), Mirsharai, Chattogram. In the future, this plant can be expanded to produce four million tons annually.
SMS group will install the well-proven state-of-the-art CSP® technology to produce hot rolled coils with meltshop in the up-stream along with auxiliaries.
Along with this project, the technicians in the local sector will become more skilled through knowledge transfer and training. With the construction of Bangladesh’s largest integrated facility, Bashundhara Group fulfils its commitment to aid in the growth of this sector. The two teams are now working together with the German and Bangladeshi banking consortia as well as the German Export Credit Agency Euler Hermes to structure the financing for this mega project.
Bangladesh is a remarkable story of economic development to emerge as one of the fastest growing economies in the Asia Pacific region. The steel industry is also growing in equal pace to meet the demands primarily from infrastructure projects, rapid urbanization and shipbuilding industry. Though the steel production in the country is dominated by long products, there is an increasing demand for flat products.