Bangladesh Steel Re-Rolling Mills (BSRM) and Chinese company Kunming Iron and Steel Holding Company Limited (KISC) plan to jointly invest $1 billion to Mirsarai Economic Zone (MEZ) in Chittagong in next five years.
The companies made the disclosure during a meeting with Bangladesh Export Zones Authority (BEZA) officials yesterday. The meeting was held at the BEZA office.
According to BEZA press release, both the companies have already started feasibility study in line with their plan which was undertaken for producing around 1.8m ton of steel from the proposed steel mill to be established in the MEZ.
BSRM is one of the largest steel producing company in the country with an installed capacity of around 1.1 MnT. Company is likely to expand its production capacity to 1.45 MnT by 2017.
~ Sourced
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