BSRM

Bangladesh Steel Re-Rolling Mills Ltd.
Company typePublic
DSEBSRMSTEEL
CSEBSRMSTEEL
IndustrySteel engineering
GenreSteel
Iron
Founded1952; 72 years ago (1952)
HeadquartersSadarghat Road, ,
Area served
Worldwide
Key people
Alihussain Akberali (Chairman)

Aameir Alihussain (Managing Director)

Zohair Taherali (Director)
ProductsSteel, long steel products, structural steel, wire products, steel casing pipes, household goods
Production output
1.6 million MT (2019)
RevenueIncrease10000 crore (US$930 million) (2021)
Total assetsIncreaseTk 13,466 Crore
(US$1.6 billion) (2018)
SubsidiariesBSRM (Hong Kong)

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 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 July 2002, BSRM Group incorporated a new company, BSRM Steels Ltd, to fund and operate a turnkey re-rolling mill from Italian supplier Danieli. Construction of the plant began in 2005 on 11 acres just off the Dhaka-Chittaong Highway at Latifpur in Fouzderhat, Chittagong. It was completed at a cost of 3.7 billion Bangladeshi taka (equivalent to $54 million in 2008). The facility began commercial operation in April 2008 with an annual production capacity of 375,000 metric tons. On 18 January 2009, BSRM Steels Ltd was listed on the Dhaka Stock Exchange and Chittagong Stock Exchange. As of 2019, holding company BSRM Ltd retained about 45% of the shares in BSRM Steels Ltd.

BSRM has a subsidiary in Hong Kong named BSRM (Hong Kong) Limited.

Controversy

In May 2019, Bangladesh National Board of Revenue (NBR) 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. Later, they paid the VAT amount including interest to NBR in December 2021.

See also


This page was last updated at 2024-03-18 06:47 UTC. Update now. View original page.

All our content comes from Wikipedia and under the Creative Commons Attribution-ShareAlike License.


Top

If mathematical, chemical, physical and other formulas are not displayed correctly on this page, please useFirefox or Safari