Government Policy

Star consortium, China’s KISC to build steel manufacturing plant

DHAKA, May 18, 2017 (BSS) - Star Infrastructure Development Consortium Limited (Star Consortium) and Kunming Iron and Steel Company Limited (KISC) will jointly set up a steel plant with an annual production capacity of two million tonnes in Mirsarai economic zone of Chittagong.

A delegation of KISC, Star Consortium and BSRM, led by KISC chairman Zhao Yongping, disclosed this at a meeting with executive chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam at his office here today, said a press release.

Bangladesh Steel Re-rolling Mills Limited (BSRM) will play the key role on behalf of Star Consortium in implementation of this mega project.

The delegation sought BIDA's all-out cooperation in implementation of the country's largest steel plant. This plant will be set up in Mirsarai economic zone as part of the move to build this zone as comprehensive industrial park styled 'Sino-Bangladesh International Industrial Capacity Cooperation Demonstrative Zone'.

As part of the project, a private jetty will be constructed at the nearby Sandwip channel. A 167 megawatt coal-fired power plant will also be constructed at the steel plant area.

BIDA executive chairman Kazi M Aminul Islam said BIDA will extend all-out cooperation for implementation of all first-tract projects.

BIDA, he said, will soon hold an inter-ministerial meeting comprising representatives from the prime minister's office and finance, commerce, power, roads and bridge, shipping ministries and Bangladesh Bank to discuss the steel plant project.

BIDA secretary Ajit Kumar Paul and director Tawhidur Rahman Khan, chairman of Star Consortium and FBCCI president Abdul Matlub Ahmad, KISC vice-chairman Zhang Zhuming and BSRM chairman Ali Hosen Akbar Ali were present at the meeting.

Source: Bangladesh Sangbad Sangstha (BSS)