Posted on 25 Sep 2018
Nippon Steel & Sumikin Bussan Corporation (NSSB) and McDonald Steel Building Products have formed a flat steel service centre and ferrous products distribution joint venture in Bangladesh.
NSSB is the core trading company of Japan’s Nippon Steel & Sumitomo Corporation, while McDonald Steel is a Bangladesh-based pre-engineered steel buildings fabricator. The latter imports steel feedstock from Japan, Luxembourg, China and India.
The JV, under the name of Nippon & McDonald Steel Industries Limited (NMSIL), “…allows both the companies to build on each other’s strength in the line of related business,” McDonald says in a note seen by Kallanish. The company’s managing director is Mazumder Sunil Chandra.
According to reports, the JV investment amounts to $59.19 million and its location will be in Mirsarai Economic Zone in Chattagram.
