Initially, BSRM, the country's only 500 grade steel rod maker, plans to invest BDT 53 crore to expand the capacity at its present factory in Nasirabad, Chittagong.
Meanwhile, BSRM, the market leader in iron and steel manufacturing in Bangladesh.
IDLC Finance Limited, Standard Chartered Bank and City Bank Limited co-arranged a syndicated term credit facility of BDT 5,908 million and US$ 40 million for the facility that will make roll out billets for internal use by BSRM
Group's other firms.
Alihussain Akberali, Chairman - BSRM Group, Bangladesh, said, We take pride in the fact that BSRM will be in a position to contribute to the power sector of Bangladesh when the project gets implemented.
Implementation of the GIS solution for BSRM Bangladesh forms part of the SMART (simple-to-use, maintenance-friendly, affordable, reliable and timely-to-market) product portfolio.
The GIS substation will be used by BSRM
to provide uninterrupted power to its new 1MTPA steel plant.