Bangladesh: Nippon-McDonald to start new plate mill in Sept ’21

Nippon-McDonald, a JV between Japan’s Nippon Steel and Bangladesh’s McDonald Steel Building Products, will be inaugurated in Chittagong on 10 June ’21. The company is expected to start commercial production of galvanised and prefabricated steel sheets from Sept ’21. The JV is intended to catch the growing market in steel plates, McDonald sources said, with focus on imports substitution. The two companies are initially investing $59.19 million to set up the plant. Once operational, the JV expects around $20 million of domestic sales annually, apart from exports to South Asia – especially India’s North-East.