The world's third largest Japanese steel producer, Nippon Steel and Sumitomo Metal, in association with the country's McDonald Steel Building Products will invest $59.19 million for boosting development process of the two nations.
An Agreement between the two companies was signed today, said a press release.
Executive Member Haroon Rashid of Bangladesh Economic Zones Authority (BEZA) and Executive member Sarwar Kamal of Nippon and McDonald Steel Industries Ltd signed the agreement on behalf of their respective sides at city's BEZA office.
Under the agreement, Nippon will set up steel factory on 60 acres of land out at the Mirsarai Economic Zone.
BEZA Executive Director Paban Chowdhury was present as on the occasion.
Source: Bangladesh Sangbad Sangstha (BSS)