Global Steel Holdings Ltd, a subsidiary of UK-based Mittal Group, intends to invest a total of $5.0 billion in Bangladesh’s petrochemical, coal, steel and power sectors. The company has already submitted an Expression of Interest (EoI) to the Board of Investment (BoI) and other ministries concerned of the Bangladesh government in this connection. With the EoI Global Steel has also submitted a draft copy of memorandum of understanding (MoU) for examination by the Bangladesh government.

Pramod Mittal, chairperson of Global Steel Holdings and younger brother of Lakshmi Mittal, chairperson of the global Mittal steel, is eagerly waiting to visit Dhaka for signing the MoU with the Bangladesh authority for further progress of the proposed investment plan. The company would be able to know the exact amount of investment only after a survey on the projects. An expert team of Mittal is planning to visit Dhaka for the survey and prepare a concrete paper on investment.

The company manages steel plants with production capacity of 14 million tonnes in many countries across Europe, Africa and the Asia-Pacific, besides India. Global Steel Holdings Limited (GSHL) is the UAE-based holding company.