The company is set to establish a steel wire manufacturing plant called BSRM Wires in Chattogram citing a booming steel industry supported by mega projects that the government has set in motion.
February 15, 2019
BSRM Group plans to spend approximately USD 54 million to build a steel wire manufacturing plant in Chattogram as the country’s leading steel manufacturer looks to capitalize on the impending construction boom in Bangladesh.
BSRM Wires will have the capacity to manufacture 77000 tonnes of steel wires a year, which would be a combination of galvanized wire, LRPC wire, welding electrode and carbon wire.
The plant is being implemented with 70 percent bank financing and 30 percent equity investment. BSRM has already raised USD 38 million from different banks, with the rest being equity investment.
The major product focus of BSRM is rebar, but it also has a plant at Nasirabad in Chattogram that manufactures wire rod. That plant, described as the first and only company to manufacture high-strength reinforcement wires in Bangladesh, has annual capacity of 24,000 metric tons of wire rod.
