Ceylon Steel Corporation
Native name
ශ්‍රී ලංකා වානේ සංස්ථාව
TypePublic
Industrysteel manufacturing
Founded1962 (1962)
FounderSirimavo Bandaranayake, Maithripala Senanayake
HeadquartersColombo, Sri Lanka
ProductsQT bars, BRC, GI pipes, GI mesh, hot dipped galvanizing, square tubes
OwnerNandana Lokuwithana
SubsidiariesLanwa Sanstha Cement Corporation
Websitewww.ceylonsteel.com

Ceylon Steel Corporation is one of the three industrial projects along with Ceylon Tyre Corporation and Ceylon Sugar Corporation, which were established in Sri Lanka by the support of Soviet Union during the cold war era.

After winning the 1960 parliamentary election,[1] Sirimavo Bandaranayake continued with the pro-socialist vision of her late husband and further strengthen Sri Lanka's relations with socialist countries. The Ceylon Steel Corporation was started in 1962 under the supervision of Maithripala Senanayake who was the Commerce and Industrial Minister of her government.[2] A. N. S. Kulasinghe was appointed the first director of the organisation. In 1996 the organisation was sold to Hanjung Steel, now a member of the Doosan Group of South Korea[3][4] during the period President Chandrika Bandaranayaka, who is the daughter of founder Sirimavo Bandaranayaka. In 2009 the company was acquired by the UAE-based Onyx Group which is owned by the Sri Lankan businessperson Nandana Lokuwithana and re-branded as "Ceylon Steel" Corporation Limited.[5][6] On 2020 Lanwa Sanstha announced they plan to build massive cement corporation under the name of Lanwa Sanstha Cement Corporation. The company aimed at 2.4 million tonnes of cement production in 2021. This facility is located in Mirijjawila Export Processing Zone, Hambantota. The investment for phase 1 of the project was estimated to be US$70 million.[7]

References

  1. ↑ History of Bilateral Relationship (19 February 1957). "Previous Website of Embassy of Sri Lanka » History of Bilateral Relationship". Srilankaembassy.org. Retrieved 29 August 2016.
  2. ↑ "Features | Online edition of Daily News – Lakehouse Newspapers". Archives.dailynews.lk. Retrieved 29 August 2016.
  3. ↑ Dilshani Samaraweera (4 October 2009). "Former Steel Corporation to upgrade to TMT steel and show profits in 4 years". Financial Times. Sri Lanka. Retrieved 29 August 2016.
  4. ↑ Gopal Ganesh (2008). Privatisation and Labour Restructuring. Academic Foundation. p. 75. ISBN 9788171886340.
  5. ↑ "Hot Dipped Galvanizing Sri Lanka – Company Milestones". Ceylon Steel. Retrieved 29 August 2016.
  6. ↑ "If It is Steel - It is Ceylon Steel Corporation". 18 August 2016.
  7. ↑ "Lanwa Sanstha Cement to start operations in June with $ 80 m investment | Daily FT". www.ft.lk. Retrieved 11 December 2020.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.