Bangladesh-based construction company Mir Akhter Hossain has announced that it has decided to form a subsidiary company called “Mir Steel Mills Limited” and will operate the business subject to the necessary approval of regulatory organizations. Mir Akhter Hossain will hold a majority stake in the new company. Details of the subsidiary’s production capacity and technology have not been published yet.
With the subsidiary, the company aims to supply steel to its construction business, reducing raw material costs, SteelOrbis understands.