Kelani Cables aiming for overseas markets

Indunil HEWAGE

Kelani Cables Plc, a path breaking cable manufacturer in Sri Lanka is geared to build its international and local business furthermore with systematic investments to be made over the next three years.

Kelani Cables Plc CEO Mahinda Saranapala said the company will inject Rs 300 million in the next three years in identified areas to provide internationally recognized, quality products to its customers. The company also posted impressive financial results in the first quarter this year with a 30 percent top line and 520 percent bottom linegrowth rate as apposed to the corresponding period in last year and is committed to sustain the growth for the next financial year. The company will be looking at new markets particularly for its products in India, Japan, Maldives, Bangladesh and some countries in South Africa.

Kelani Cables will also be looking at joint venture partnerships with foreign companies to support its future growth aspirations.

"We have found internal markets with the cessation of hostilities and the company is doing well in project markets with the ongoing development drive in the country particularly in infrastructure, housing development projects has immensely benefited the company's performance," he said.

"However, a considerable number of people here are still not satisfied in buying Sri Lankan products and many government organizations and corporates are in the habit of importing cable products from foreign countries, which is a drawback for local companies like ours. Since the local cable manufacturing companies have the capacity, manpower and know-how to achieve product safety and international region, all the tenders that are opened internationally should be reversed for the betterment of the local cable manufacturing industry," Saranapala said.