DHAKA, Nov. 29 (Xinhua) -- A leading Chinese steelmaker will invest 2.13 billion U.S. dollars in a mega Bangladesh-China project, according to a press release from the Bangladeshi side on Wednesday.
Two Memorandum of understandings (MoUs) were signed
in Bangladesh capital Dhaka on Wednesday between Bangladesh Economic
Zones Authority (BEZA), Chinese Yunnan Yongle Overseas Investment Co.
Limited and Bangladeshi Star Infrastructure Development Consortium
Limited.
Star Consortium Bangladesh said in the release that
objectives of the MoUs are to promote international capacity
cooperation, explore and realize the development goal, create job
opportunities, decrease import of steel in Bangladesh and improve
production technologies.
Kunming Iron and Steel Holding Company (KISC), the
parent company of Yunnan Yongle Overseas Investment Co. Limited, will
invest about 2.13 billion U.S. dollars in Bangladesh.
It said the leading Chinese steelmaker intends to
invest and establish a Bangladesh-China Iron and Steel International
Capacity and Cooperation Demonstrative Zone Project in Bangladesh, as
well as a 2-million-ton per year integrated iron and steel production.
Star Consortium Bangladesh, a combination leading 17
largest business groups in the country, will work as the local partner
of KISC in this mega initiative.
Under the project, it said, a coal fired power plant,
transfer platform in deep sea and private jetty, device and machine
manufacture, logistics and distributions, cement and building materials
and steel structure fabrication will be developed.
