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Kunming Steel to set up a JV integrated steel plant in Bangladesh- The 20th China（Guangzhou）Int’l Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
8/17/2018 Sheetmetal machinery, Forging, Stamping expo |
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The Daily Star reported that a consortium of 17 local companies and a Chinese steelmaker is set to invest USD 3.5 billion to establish a Bangladesh-China joint venture integrated steel plant in Moheshkhali. Of the sum, Kunming Iron and Steel Holding Company a leading steelmaker from China, will foot USD 2.4 billion. The rest will be provided by Star Infrastructure Development Consortium a combination of 17 business groups including BRSM, Crown Cement, Nitol Niloy and Unique Group. More than 20 lakh tonnes of steel products would be manufactured at the plant, according to the business proposal submitted to the Bangladesh Economic Zone Authority.
Mr Abdul Matlub Ahmad, chairman of Nitol Niloy Group said that “We have a plan to build a plant that would provide all kinds of steel products.”
Mr Ashraful Haq Chowdhury, managing director of SIDC said that “This plant will be an import substitute, and it would save foreign exchange, adding that the plant will create employment for 20,000 directly.” He added that the construction of the plant would not start for another year.
Mr Manwar Hossain, managing director of Anwar Group of Industries that owns Anwar Ispat, said foreign direct investment is always welcome. He added that “But we have to keep in mind that the foreign investments do not hurt the local players, especially small ones.”
中国最大钣金展-锻压展-2019第二十届广州国际钣金、锻压工业展览会-巨浪展览
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The 20th China（Guangzhou）Int’l
Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
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2019 Sheet metal exhibition, 2019 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Forging exhibition, Forging expo, 2019
Forging exhibition, 2019 Forging expo, Stamping exhibition, Stamping expo
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