Ceylon Steel Corporation

Ceylon Steel Corporation
Native name
 ශ්රී ලංකා වානේ සංස්ථාව
Public
Industry steel manufacturing
Founder Sirimavo Bandaranayake , Maithripala Senanayake
Headquarters Colombo, Sri Lanka
Products QT Bars, BRC, GI Pipes, GI Mesh, Hot Dipped Galvanizing, Square Tubes
Website www.ceylonsteel.com

Ceylon Steel Corporation is one of the three industrial projects along with Ceylon Tire 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] This deal was considered as a corrupted[5] one occurred 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 owned by the Sri Lankan businessperson Nandana Lokuwithana and re-branded as "Ceylon Steel" Corporation Limited.[6][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. ↑ Nihal Sri Ameresekere. "UN Convention Against Corruption to Combat Fraud & Corruption: A Cancerous ...". AuthorHouse. p. 227. Retrieved 29 August 2016.
  6. ↑ "Hot Dipped Galvanizing Sri Lanka – Company Milestones". Ceylon Steel. Retrieved 29 August 2016.
  7. ↑ http://bizenglish.adaderana.lk/if-it-is-steel-it-is-ceylon-steel-corporation/


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