In 1996, the company installed and commissioned their billet casting plant under the name "Meghna Engineering Works Limited".

[5] Construction of the plant began in 2005[6] on 11 acres just off the Dhaka-Chittaong Highway at Latifpur in Fouzderhat, Chittagong.

The facility began commercial operation in April 2008 with an annual production capacity of 375,000 metric tons.

[10] In May 2019, Bangladesh National Board of Revenue (NBR) alleged that the company has drawn over USD 13 million from the government falsely claiming locally sold steel products as export goods which violates the duty drawbacks facilities that is only meant for material export.

[12] Between 2017 and 2018, BSRM was fined ৳5.2 millions by Department of Environment for destroying 1,05,000 square feet of hills in Mirsarai to make way for a power plant named Chittagong Power Company Limited.