BSRM Launches Wire Manufacturing Plant in Bangladesh to Reduce Imports
BSRM Group is expanding its operations with a new wire manufacturing division, BSRM Wires, aimed at replacing imported wire products in Bangladesh. This strategic move supports the country’s growing construction sector and strengthens domestic production capabilities.
$54 Million Investment in Chattogram
According to reporting from The Daily Star, BSRM Group will invest approximately $54 million to build a modern wire manufacturing facility in Chattogram. The company is responding to rapid growth in Bangladesh’s steel industry, driven by large-scale government infrastructure projects.
BSRM plans to position itself at the center of this construction surge by increasing local supply and reducing reliance on imports.
Focus on High-Demand Wire Products
BSRM Wires will manufacture four key wire products currently imported into Bangladesh:
- Galvanized wire
- Low relaxation prestressed concrete (LRPC) wire
- Welding electrodes
- Carbon wire
Chairman Alihussain Akberali emphasized the cost advantage of local production. While global raw material prices remain low, import-related costs increase prices for finished goods. Local manufacturing will reduce prices and improve market access.
Production Capacity and Job Creation
The new facility will produce up to 77,000 metric tons of wire annually once operational. In addition, BSRM expects the project to create approximately 400 new jobs, increasing its total workforce to around 4,700 employees.
Strengthening Existing Operations
BSRM already operates a wire rod manufacturing plant in Nasirabad, Chattogram. This facility produces high-strength reinforcement wires and has an annual capacity of 24,000 metric tons. The company continues to focus on rebar production while expanding into complementary product lines.
For more details, visit the official BSRM Group website.
Strong Financial Backing
Leading financial institutions in Bangladesh support the project, including:
- Dhaka Bank
- Bank Asia
- City Bank
- NCC Bank
- Modhumoti Bank
- Mercantile Bank
The Saudi-Bangladesh Industrial and Agricultural Investment Company also joined the investment effort.
Dhaka Bank Managing Director Syed Mahbubur Rahman expressed confidence in the project, citing its strong economic potential and positive impact on Bangladesh’s industrial growth.
