BSRM, KISC plan $1bn investment in Mirsarai Economic Zone

12 December 2016

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, said a BEZA press release. The meeting was held at the BEZA office.

BSRM Group Chairman Ali Hussain Akber, KISC Director Wu Yun Kun and BEZA Executive Chairman Paban Chowdhury were present during the meeting.

They discussed various issues on the sector.

According to the press release, both the companies have already started feasibility study in line with their plan which was undertaken for producing around 1.8m tonnes of steel from the proposed steel mill to be established in the MEZ.

Meanwhile, BEZA is working to develop MEZ as a planned industrial city as part of its target to set up 100 economic zones by next 15 years which will generate new jobs for around 10m people along with an additional export of $40bn.