Ceylon Steel Corporation invests 10 billion for expansion

Jayantha De Silva

Ceylon Steel Corporation Ltd, is to invest Rs. 10 billion for expansion to further strengthen the rapidly developing construction industry.

Plans are underway to create a “Steel Village” in Athurugiriya providing employment opportunities, and to groom entrepreneurs further supporting the country’s economy.

The compound will also offer opportunities for a “Steel University” enabling Mechanical Engineering students to understand global technologies and innovation in our own country.

“For over six decades we have come forth as a name that safe guards the loyalty and the trust of the people in our country. Through constant investment, research and development, the company has essentially contributed to the overall growth in many industrial sectors of the country as well as met the rising domestic demand for high quality steel products.

Our production has replaced imports and helped reduce the country’s growing trade deficit, and has also been regarded by the government of Sri Lanka as a vital asset to the nation’s economy, development and employment.

Our investments will further develop and sustain our economy as we continuously drive excellence and innovation throughout our operations,” Nandana Jayadeva Lokuwithana Chairman Ceylon Steel Corporation Ltd said.

He added, “As the market leader, we have set forth on a three pronged investment strategy revolutionizing our entire production process and our offerings to our valued customers.

The first got underway with the launch of LANWA QT Bars. Most of our consumers understand the advantages of utilizing QT Technology, the knowledge they acquired through the availability of LANWA QT Bars has resulted in excluding the use of counterfeit and low quality product purchase. This is indeed a victory for our whole nation.”

“The all new LANWA GI Pipe further enables our nation’s talented constructors, engineers, steel workers, welders to fabricators from all walks of life and building an entrepreneurial community enhancing our people’s livelihood and our nation’s economy as a result,”Sanath Niroshan, Business Development Manager - LANWA said.