Bashundhara Group (Dhaka, Bangladesh) will build an electric-arc furnace steel mill that has the potential to boost Bangladesh’s demand for steel scrap imports, Fastmarkets AMM reports.
The company plans to build the three-factory complex starting in January 2021 in the Mirsarai economic zone in Chattogram. It will employ approximately 3,850 people, according to The Daily Star.
The EAF will have the capacity to produce about 1.3 million mt per year of primarily long steel, but the company may keep its options open to also produce flat steel, a source told Fastmarkets. Bashundhara Group will invest $504 million in building the plant, which could open by the end of 2021, The Daily Star reported.
The company aims to meet more of Bangladesh’s growing domestic demand for steel due to numerous infrastructure developments being built across the country, the newspaper says. Visit www.bashundharagroup.com.