- New steelworks for Magampura…
President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa today (07) inaugurated the cement manufacturing plant of Lanwa Sanstha Cement Corporation (Pvt) Ltd., the largest cement factory in the country, located in the Magampura Industrial Zone Lanka.
The President and Prime Minister who arrived at the scene also laid the foundation stone for the proposed new steel plant. The investment for the new steel plant, which will be built on 250 acres of land, is 400 million US dollars. The manufacturing process is expected to begin in late 2024.
The President and Prime Minister unveiled the plaque at the opening of the new cement plant and inspected the factory premises.
The investment for the cement plant, whose construction began in March 2020, was 100 million US dollars. Covering an area of 63 acres, it is one of the largest cement factories in the South Asian region. The plant has an annual production capacity of 04 million metric tons and will supply 2.8 million metric tons to the local market under the first phase, management said.
Conveyor belts are used to transport raw materials between the port and the factory with the aim of ensuring high efficiency and reducing waste and pollution, and the factory has a Stacker Reclaimer Yard and a Fully Automatic Bridge-Type Ship Unloader. This will enable cargo handling using technology instead of manpower, in line with international trends. Lanwa Sanstha Cement Factory is also designed to manufacture all types of cement including Ordinary Portland Cement, Portland Composite and Mixed Hydraulic.
The manufacture of the factory was inaugurated by the President. Addressing the rally, Chairman of Lanwa Sanstha Cement Corporation (Pvt) Ltd., Nandana Lokuwithana said that with the expansion of the plant’s manufacturing, the demand for cement in the country can be met locally.
Minister Chamal Rajapaksa pointed out that Hambantota, which was an arid region, has undergone a complete transformation based on the long term plans of the 5th Executive President Mahinda Rajapaksa.
The Minister said that as a result of the implementation of these plans, young people in the region are looking to the future.
The Minister also stressed the need for public officials to support and encourage investors.
Minister of State DV Chanaka said the government had taken responsibility for producing everything the country needed locally and moving forward the country which had one of the weakest economies in South Asia.
So far, there are 14 investment zones in the country. The government plans to establish 11 new investment zones before the end of 2024. This will strengthen the local economy by boosting exports, Minister Chanaka said.
Cabinet and State Ministers, Members of Parliament, representatives of local government institutions, government officials and Lanwa Sanstha Cement Corporation officials were also present on the occasion.
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