Bashundhara will start work in January 2021 on a three-factory steelmaking complex to be located in a new economic zone in Mirsarai, Chattogram, according to a Bangladeshi steelmaker source.
The Chattogram region is home to factories owned by the country’s four largest steelmakers and benefits from close proximity to a large deep-sea port, into which Bangladesh’s bulk scrap cargoes are shipped.
Bashundhara’s plant will feature an electric-arc furnace (EAF) with capacity for around 1.3 million tonnes per year of steel, the source told Fastmarkets.
The group will invest 43.5 billion taka ($504 million) in building the plant, according to local media reports.
Fastmarkets understands that Bashundhara has signed a contract with a major European equipment...