Japan's Nippon Steel and Bangladesh's McDonald Steel Building Products joint venture Nippon-McDonald announced that its first factory would be opened on 10th June, 2021 at Bangabandhu Sheikh Mujib Shilpa Nagar industrial enclave in Mirsarai in Chattogram. The virtual opening ceremony is scheduled to be held on 10th June, 2021. The joint venture has invested approximately BDT 100 crore in the plant. The finished products from the plant will primarily serve the domestic pre fabrication industry. It expects sales of nearly $20 million in domestic market. Upon becoming fully operational, it may even export products to South Asian countries. However, its commercial production of galvanised and prefabricated steel sheets would take up to September to begin. The machinery was brought from Japan and China, The raw materials will come from China, Japan and other European countries and the finished product will be mainly used by the local pre-fabrication industry, including McDonald. The joint venture expects to make annual sales of USD 20 million in the local market and also plans to export to South Asian countries once it becomes fully operational.