BSRM to pump Tk400cr into fastener plant to make bolts, nuts
Once operational, it will reduce import dependence for industrial fasteners, officials say
BSRM Group, a leading steelmaker of the country, is expanding into a new line of industrial products with plans to build a state-of-the-art fastener manufacturing plant to produce high-quality bolts and nuts – components that are now mostly imported.
The new facility will be established under BSRM Wires Limited at Mirsharai upazila in Chattogram, where the company already operates a wire products factory employing around 500 workers.
As part of the expansion, BSRM Limited and BSRM Steel – two of the group's key concerns – will each invest Tk200 crore in BSRM Wires Limited through share subscriptions, bringing the total fresh investment to Tk400 crore, the group announced in a statement today (19 October).
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"The project is at a primary stage and will take more than a year to complete," Tapan Sengupta, deputy managing director of BSRM Group, told TBS. "Once completed, it will create direct employment for at least 200 more people."
Focus on import substitution
Explaining the reason for the investment, Sengupta said a large number of industries – including automobile, construction, prefabricated steel, and power generation – depend on imported fasteners from China and Europe.
The plant will also include a large wire rod pickling station and an expansion of the company's existing wire production capacity.
Expanding product range
According to the company's statement, the facility will produce a wide range of advanced wire and fastener products. These include Low Relaxation Prestressed Concrete wires used in bridges and high-rise buildings, welding electrodes for industrial fabrication, ACSR core wires used in electrical transmission, and chain-link fences for industrial and infrastructural use.
The company said the initiative is designed to meet the growing domestic demand for industrial fasteners and specialised wire products while enhancing shareholder value and strengthening its position in the regional market.
A strategic move in the steel value chain
Industry insiders say BSRM's entry into fastener production marks a significant shift in Bangladesh's steel value chain. The fastener market – comprising nuts, bolts, and industrial fittings – has long been dominated by imported products, mainly from China, India, and Europe.
By setting up a local production base, BSRM aims to serve large-scale infrastructure, shipbuilding, and energy projects that require reliable local suppliers.
BSRM at a glance
Established in 1952, BSRM (Bangladesh Steel Re-Rolling Mills Ltd) is the oldest and largest steel manufacturer in Bangladesh. Headquartered in Chattogram, it produces construction-grade steel such as rebar, billets, wire rods, and prefabricated steel products.
Over the decades, the company has supplied steel to major infrastructure projects, including the Padma Bridge, metro rail, nuclear power plants, and economic zones. BSRM Group now employs several thousand people across its different units – BSRM Limited, BSRM Steel, BSRM Wires, and BSRM Recycling Industries.
BSRM's latest Tk400 crore investment signals a broader push toward high-value manufacturing within Bangladesh's steel sector. Once operational, the new fastener plant is expected to reduce import dependence, create new industrial capacity, and strengthen Bangladesh's position in the regional steel and engineering products market, its officials say.
