The Ceylon Steel Corporation Ltd (CSCL) will set up the country’s first ever ‘Steel Village’ at Athurugiriya creating a number of employment and entrepreneurial opportunities for the people in the country, the company’s Business Development Manager Sanath Niroshan said.
He said CSCL completed the Rs10bn (US$180M) investment over the past three years in four stages namely on a latest high tech rolling and wire mill, steel foundry and GI Pipes manufacturing plant.
The company is now moving forward to set up a ‘steel village’, where all types of steel products could be made available under one roof.
He said the company expected to save more than Rs 500M ($9M) worth of foreign exchange annually for the country which was presently spent in importing GI Pipes alone, mostly required for the SME sector.
This target has already been achieved while providing a high quality of product at an international standard to customers. CSCL is the only company in Ceylon where casting of stainless steel can be carried out.
CSCL have also introduced a new pipe product, Lanwa GI Pipe which they say challenges international quality standards.
Source: ‘Daily News’, Colombo; 15 Nov 2012