Managing director of India's Ispat Industries, Vinod Mittal, on Monday signed a memorandum of understanding with the Board of Investment to conduct a feasibility study of US$ 2.9 billion investment plan in Bangladesh.
Vinod Mittal, younger brother of steel tycoon Lakshmi Mittal, made the agreement on behalf of Global Oil & Energy Ltd UK, the offshore investment wing of Ispat Industries. The company expressed its interest to invest $1.5 billion in the petrochemical sector, $500 million in power plants, $500 million in NGL/LNG production, $300 million in coal mine development and $100 million in oil exploration and production.
Amir Khasru has more on the story.
