Please tell us about the vision and mission with which BSRM started its journey. How much of that mission has been achieved?
Since our inception in 1952, BSRM has always been an innovative company and always trying to reshape the steel industry with its new ideas. Ideas that add value to the consumer’s life, ideas that help the country to move forward. Moreover, we are the torchbearer of the industry and spreading our light to build a safer and a better Bangladesh.
Our vision is to maintain our leadership position in the steel industry by producing the best quality steel products, continuously enhancing customer satisfaction and becoming a reliable business partner of our Customers and Suppliers.
Technical excellence, consistent quality, the sole supplier of landmark projects, countrywide distribution network, consistent brand building and the huge amount of consumer confidence is what makes BSRM the most Beloved Brand in the Steel category, not just for individual homebuilders and engineers, but for the nation itself. We believe we are on the journey of building a safer and a better nation and we have to go a long way.
Tell us about some of the milestone achievements of BSRM in the realm of the construction industry. What were the challenges, and how did the group press forward to overcome those?
In 2008, BSRM became the first steel manufacturer in Bangladesh to launch their flagship product ‘BSRM Xtreme’, the first 500W-grade rebar in the country. Steel was an extremely low involvement product back at that time and the market was dominated by retailers with non-graded products. So to change the consumer mindset to buy a graded product over non-graded products was a challenge for BSRM. But with the quality products and consistent communication over the years, BSRM has changed the consumer perception and become a household name.
BSRM is the sole manufacturer of 50mm diameter high strength rebar in Bangladesh supplied in Padma Bridge. BSRM also received the best brand award for the 7th consecutive time from Bangladesh Brand Forum. The best brand has been selected through countrywide research conducted by international research firms.
Innovation is the only way to survive in this ever-changing, highly competitive world. And digital technology has changed the total landscape of business. Consumers are more demanding than ever before and always looking for more convenience from brands. Furthermore, as leading brand-consumer expectations are always high from BSRM. To meet up with those consumer expectations are a great challenge.
Bangladesh economy is moving at a consistent pace. The Asian Development Bank (ADB) has dubbed Bangladesh as the fastest growing economy in the Asia-Pacific region. Businesses growing with the trajectory of the nation poses a range of challenges.
What is the size of human resource in your company and how do you ensure an employee-friendly atmosphere. Does BSRM have exclusive benefits and training facilities for its employees? Also, shed light on employee turnover year on year (if any)?
Our people are our assets. Success isn’t possible without a great team. At BSRM Group of Companies, nurturing and supporting human talent is of utmost priority to us. We believe sustainable growth is only possible if we foster teamwork, develop talent, enhance leadership capability, and maximize the potential of our human capital. Currently, BSRM has a family of approx. 3600 members.
BSRM focuses on the Benefit Policy to ensure that talent receives benefits and allowances such as Festival Bonuses, Provident Fund, Gratuity, Salary Advance, Interest free Company Loan for Car Scheme, Children Education Scheme, Employee Education Scheme, Employee Children Education Achievement Award for distinct academic results, Domiciliary Scheme, Executive Health Check-up Scheme, Hospitalization Scheme, Maternity Benefits Scheme, Wedding Gifts, WPPF, Pilgrimage Leave, etc.
BSRM pride’s itself on being an Equal Opportunity Employer and our Code of Conduct provides clear guidelines that allow us to build a working environment that is productive, enjoyable, safe, and free from harassment and discrimination. People who work for us belong to our family and are an integral contributing factor in the determination of our policies and procedures. In BSRM we work together, and we achieve together.
The construction industry is rapidly changing due to advancements in technology. How does your company work to ensure innovation?
Bangladesh’s steel industry is rapidly growing due to rapid urbanization and implementation of mega infrastructure projects. Furthermore, the advancement of technology changes the ecosystem of business. Also, it opens thousands of opportunities along with many challenges. BSRM is always ready to adapt to new technology and embrace them to serve its customer better than before.
BSRM has invested in the most innovative and latest European technology of Quenched Turbo Bar or QTB, in short. The QTB thermal processing ensures not only uniform high strength but high ductility as well. QTB processing of steel ensures exquisite control of all the production equipment and processes, which is assured in BSRM by using the most advanced, state-of-the-art automation. This results in the most uniform metallurgical properties of the steel with the precise desired mechanical properties. BSRM’s technological edge was pivotal in its emergence as the sole supplier to many landmark projects of national significance like Potenga Container Terminal, Karnaphuli Tunnel, Dhaka Mawa Four Lane and much more.
To deal with the constantly changing business environment BSRM is being very agile and adaptive. And innovation is the only way of survival. Innovation is not a mere word at BSRM rather it’s rooted in our culture across all the departments and functions which ensure us to add value to consumer’s life.
In the year of 2015, BSRM first launched first Grade 80 rebar in Bangladesh designed specifically for megastructures like power plants, bridges, tunnels, flyovers, and skyscrapers. In the year of 2016 BSRM introduced the country’s first Fusion Bonded Epoxy Coated Rebar BSRM Centura for coastal constructions. BSRM Centura is specialized steel which resists corrosion and extends the life of the structure. BSRM is still working to extend its services to add value to consumer life.
How do you set your annual goal and growth strategy?
According to Philip Kotler “Today you have to run faster to stay in a Place”. So running is the only way for survival in business. Bangladesh economy is the fastest growing economy in the Asian Pacific region according to Asian Development Bank. To cope up with the country’s growth we will continue expanding our manufacturing facilities and want to serve more customers in the coming days. However, BSRM’s growth rate is 12% in terms of last year sales.
Tell us about your ongoing projects in the sector of construction, power, railway, and consumer products?
BSRM is associated with single storied building to megaprojects, hospital to power plants, bridges to flyovers, power plants to the tunnel, and the elevated expressway to metro rail. Some of the top projects are listed below
1. Padma Bridge
2. Padma Bridge Rail Link Project
3. Rooppur Nuclear Power Plant
4. Karnaphuli Tunnel
5. Metro Rail (MRT)
6. Potenga Container Terminal
7. Matarbari Power Plant
8. Rampal Coal Power Plant
Today, BSRM is no longer just a steel rebar manufacturing company, but rather, a partner in the development of Bangladesh, with continual improvements and products to keep the people safer than ever before. BSRM is the most trusted steel brand in the country. Not only is it the preferred brand of steel among home builders throughout the country, but it is also the steel most prescribed by engineers. That’s how we became the Country’s No 1 Steel Expert.
Tell us about the CSR and charity initiatives that you perform on an annual basis.
For over 66 years, BSRM has provided superior, trusted and reliable steel products to build both national mega structures and individual homes. But BSRM is trusted and relied upon by people everywhere not just for steel, but for its service beyond steel – in building not just foundations and walls, but hearts and minds, cities and communities and ultimately, the nation itself.
From bringing light to people’s homes to providing safe drinking water, from vocational training to making roads safer for everyone using them, from planting trees to reducing emissions and recycling to protect the environment, BSRM continues to serve the people in building a better, safer nation for today and for the future. Under our CSR initiatives we have:
(i) Burhani BSRM School: To provide free education to the Underprivileged at Bayzid Bostami.
(ii) Vocational Training for Persons with Disability (PWD): Provide livelihood support to the Disabled People at Savar.
(iii) Lighting Facility and Safe Water supply project powered by solar energy: Ensuring healthy life solution to the villagers.
(iv) BSRM Foundation Training Center: Bringing a Change in the Lives of the Victims by ensuring self-dependency.
In the coming years, we at BSRM want to offer our customers more choices in the steel category, and lend a hand in improving lives.