Steel Corp. invests Rs. 10 b in mammoth expansion drive

Thursday, 15 November 2012 00:00 - - {{hitsCtrl.values.hits}}

Ceylon Steel Corporation Ltd. is embarking on an extensive investment plan and go-to-market strategy to further strengthen the rapidly-developing construction industry.

Introducing innovation and high calibre technology to the country, the company announced the launch of Sri Lanka’s first GI Pipe Mill based in Oruwela, Athurugirya, under its famous brand name LANWA.

Pioneering steel manufacturer Ceylon Steel Corporation Ltd. entered the steel industry in 1967. The company has grown to be recognised as the premier and undisputed leader in the production of high quality steel products in Sri Lanka.

Reiterating the company philosophy Ceylon Steel Corp. Chairman Nandana Jayadeva Lokuwithana said: “For over six decades we have come forth as name that safeguards the loyalty and the trust of the people in our country. We have constantly strived to bring in the latest innovation through unique technology and methodology ushering a new era of development to 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 then 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.”

“As the market leader, we have set forth on a three pronged investment strategy revolutionising 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 utilising 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,” added Ceylon Steel Corporation Ltd. Chairman Lokuwithana.

Lokuwithana hails from the area of Madawachchiya and showcasing excellent leadership and entrepreneurial skills, he has pioneered many businesses in steel fabrication, engineering, civil construction, fashion, industrial laundry, catering, electromechanical services, and hospitality industries in the Middle East.

LANWA Business Development Manager Sanath Niroshan said: “Being the pioneer, we have introduced the LANWA GI Pipe. This is an example where we challenge international quality standards through introducing pioneering technology. The all new LANWA GI Pipe further enables our nation’s talented constructors, engineers, steel workers, welders, and fabricators from all walks of life and builds an entrepreneurial community, enhancing our people’s livelihood and our nation’s economy as a result.”

Countries around the world regard steel as a vital part of the construction and engineering industry and Ceylon Steel Corporation Limited is proud to add value and expertise by providing renowned technological and manufacturing advances to the nation.