Foundation stone laid for US$ 400mn steel plant

Meanwhile, President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa also laid the foundation stone for a US$ 400 million steel factory for Lanwa Group led by Nandana Lokuwithana.

The steel factory will be built on a 250 acre land, which is adjacent to the cement factory. 
The manufacturing process is scheduled to begin in late 2024.

Lokuwithana already owns and operates a steel manufacturing facility—Ceylon Steel Corporation Limited, with its brand presence as Lanwa Sanstha Wane.