Best Enterprise of the Year 2023

In 1952, Akberali Africawala and his brothers formed the Bangladesh Steel Re-rolling Mills (BSRM) Group, which has since evolved into Bangladesh's leading steel conglomerate.

The company's roots can be traced back to a handful of Gujarati merchants, including Akberali's father, Alibhai Khanbhai, who migrated to Africa and later returned to the Indian subcontinent for trade.

After the partition in 1947, Akberali and his family settled in Karachi, Pakistan, where they engaged in the hardware trade.

However, during a visit to Chattogram, the family saw potential in the steel sector and decided to establish a steel plant.

The Africawala family's first steel mill, the East Bengal Re-rolling Mill, was set up in Chattogram in 1952. While other similar ventures struggled, the Africawala brothers succeeded.

After the liberation of Bangladesh in 1971, their plant was nationalised but later returned to the family, which was the beginning of a new chapter of BSRM Group.

Under the leadership of Akberali's son Alihussain Akberali, BSRM transitioned from manual operations to high-tech production, introducing innovations like Grade 60 steel bars.

This product got a good response in Bangladesh's construction sector by offering better earthquake resistance and cost savings. Over the next few decades, BSRM continually expanded its production capabilities and introduced new, specialised products.

By 2008, BSRM had installed a modern re-rolling plant in Fouzderhat that churned out the country's first Grade 500 steel bars. In the following years, the company expanded further, with its production capacity reaching 2.4 million tonnes annually by 2023.

At present, under the management of Akberali's grandson Ameir Alihussain, BSRM continues to push boundaries with innovative products, massive expansions and a robust workforce of over 4,500 employees.

Through decades of innovation and determination, BSRM has transformed itself into a leader in the steel industry.