BSRM


The Bangladesh Steel Re-Rolling Mills Ltd., commonly known as BSRM, is a Bangladeshi steel manufacturing company based in Chittagong. It is the largest construction steel manufacturer company in Bangladesh.

History

In 1952, five Indian businessman named Akberali Africawala, Alibhai Africawala, Taherali Africawala, Abdul Hussain Africawala, and Rajabali Africawala, set up the first BSRM steel re-rolling mill of the then East Bengal in Nasirabad, Chittagong. It started its journey with four manual rolling mills. In 1970 the manual rolling mills were replaced with the state-of-the-art Italian built rolling mill.
In 1996, the company installed and commissioned their billet casting plant under the name "Meghna Engineering Works Limited".
In 2008, the company built another rolling unit at Fouzdarhat, Chittagong. On 18 January 2009, BSRM was listed with the Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.

Controversy

In May 2019, Bangladesh National Board of Revenue alleged that the company has drawn over USD 13 million from the government falsely claiming locally sold steel products as export goods which violates the duty drawbacks facilities that is only meant for material export.