It was reported that Japanese steelmaker Nippon Steel & Sumikin Bussan Corporation was to build a joint venture with Bangladesh's McDonald Steel Building Products Limited (MSBPL) in the Mirsarai Economic Zone in Chattagram which cost US$59.19 million. The new joint venture's name will be Nippon & McDonald Steel Industries Limited (NMSIL).

The new joint venture company will be implemented within next two years and will create 2,500 jobs at initial stage. It will set up a large-scale steel mill and obtain 50% of required raw materials from the local market to produce steel products with a worth of US$13.67 million per year.