Chattogram Bureau :
A Chittagong-based business group, plans to invest about Tk 31,600 crore to set up an integrated steel plant on 500 acres of land in Mirsarai Economic Zone.
The group PHP will manufacture all kinds of steel products at the plant, including materials for factory buildings.
PHP Family will have to start manufacturing in the complex within three years of agreement signing, said Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority, during an agreement with the company.
The plant is expected to create 15,000 jobs directly and indirectly, said a high official of PHP Family.
“We will make the investments in phases that may take five to seven years,” Mohammed Iqbal Hossain, a director of PHP Family.
Hossain said PHP has a steel mill with an annual capacity of 3 lakh tonnes and it is building another factory of that capacity also.
“Our new integrated steel complex will basically act as a backward linkage factory for our existing steel mills,” he said. Replying to a query, Hossain said now they are not thinking about taking any new foreign investment.
A Chittagong-based business group, plans to invest about Tk 31,600 crore to set up an integrated steel plant on 500 acres of land in Mirsarai Economic Zone.
The group PHP will manufacture all kinds of steel products at the plant, including materials for factory buildings.
PHP Family will have to start manufacturing in the complex within three years of agreement signing, said Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority, during an agreement with the company.
The plant is expected to create 15,000 jobs directly and indirectly, said a high official of PHP Family.
“We will make the investments in phases that may take five to seven years,” Mohammed Iqbal Hossain, a director of PHP Family.
Hossain said PHP has a steel mill with an annual capacity of 3 lakh tonnes and it is building another factory of that capacity also.
“Our new integrated steel complex will basically act as a backward linkage factory for our existing steel mills,” he said. Replying to a query, Hossain said now they are not thinking about taking any new foreign investment.
