Vizag Steel of India Seeks a Sri Lanka Partner for Manufaturing Tie-Up

28th March 2013, www.thehindu.com

 Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Vizag Steel, is looking for a Sri Lankan company to enter into a tie-up for manufacturing steel products there, a senior official of the state-owned steel maker has said.

RINL Director (Commercial) T.K. Chand said the company has already called for expression of interest from Sri Lankan steel rod and bar manufacturers for the tie-up and the process of selection of the partner may come to a final stage by May.

“We have already floated EOI (Expression of Interest) in this regard and received offers from companies who have manufacturing facility in that country. By May, we expect that the process may reach final stages,” Mr. Chand said.

According to him, the steel maker, on its part, will supply billets for conversion into CTD/TMT rebars and structurals on wet-leasing basis in Sri Lanka.

“We will not make any investments into the plant. We are looking for a party with minimum three years experience in conversion of billets into CTD/TMT rebars and structurals and having valid licence for production. The entire capacity of SPU/RM shall be dedicated to RINL,” Mr. Chand added.

Another senior official said the RINL is looking at a plant with 1.5 lakh tonne per annum capacity plant in the south Asian country.

The official said they would look at a new manufacturing either in Hambantota or Trincomalee areas of the island nation so that they can use the harbour network for export purpose to countries which include the Maldives and the Myanmar.

“A study revealed that there is good potential for RINL products in Sri Lanka. And also export of billets is easier to Sri Lanka from Chennai port,” the official said when asked why the company is zeroed in on Sri Lanka.

Mr. Chand said the Navratna Company is also planning to open a regional office at the World Trade Centre in Sri Lanka.

Replying to query, he said currently RINL exports around 3 per cent of its production and has plans to increase it by 10 per cent in the coming two to three years.

The steel maker currently exports finished products to countries such as the US, UAE, Thailand, Bangladesh and Sri Lanka.

RINL is currently working on expansion, after which the steel making capacity will increase to 6.3 million tonnes per annum (MTPA), from the existing 3 MTPA.

Sri Lanka Steel Solutions Provider Bluescope Lysaght Secures Denmark Building Structure Deal

13th February 2011, www.thebottomline.lk

Bluescope Lysaght Lanka Private Ltd, one of the worlds’s leading steel solutions providers with offices and operations in 20 countries has recently signed a contract with a Denmark client to supply building structures for a major power house project. According to a senior official of the firm, the project execution is expected to bring in foreign exchange revenues of over US $1 million in to the island.

“The project is expected to be completed within three months and it will provide employment opportunities to over fifty people, mainly the skilled workers varying from high class engineers to welders and fitters,” BlueScope Lysaght Sri Lanka Country Manager, M. Vishwanath told
The Bottom Line in an interview.

He said that Bluescope’s past records in carrying out major prefabricated building projects in the Western and the Eastern provinces in Sri Lanka has helped the company to win this power house project after a comprehensive evaluation process was carried out by the client.

“We are also presently in negotiations with clients in some of the African countries to supply building structures to them,” Vishwanath added.

BlueScope Lysaght Sri Lanka comes under the umbrella of BlueScope Steel, which offers an extensive range of steel building solutions with roofing and walling, structural decking, rainwater goods, prefabricated building systems and steel framing systems under its LYSAGHT brand.

BlueScope Lysaght Sri Lanka has achieved market leadership with its range of quality LYSAGHT® products roll formed from ZINCALUME® steel and Clean COLORBOND® steel.

$2.4bn Steel Plant in Trinco, Sri Lanka. Australian Investment is the Biggest Ever BOI Project

13th December 2009, www.sundaytimes.lk

Sri Lanka is slated to get a US$ 2.4 billion steel plant investment from some Australian investors soon, according to informed sources. “It will most probably be set up at the Heavy Industry Zone scheduled to be put up in the East – Trincomalee and would begin after the land is sorted out,” one source told the Business Times.

He said it is a Board of Investment (BOI) project and that a team from Australia visited the BOI and had discussions with its officials. BOI officials were unavailable for comment.