Swiss based Montanstahl AG to set up steel shapes manufacturing plant in Sri Lanka.

Montanstahl AG, a Swiss based stainless steel shapes manufacturer is looking to establish a Greenfield project in Sri Lanka which will be a 100 % export oriented firm.

Mr. Wolfgang Stumm VP of Research and Development of the family based firm, is currently in Sri Lanka looking for partners and a location to set up the plant, which if implemented, will come as a BOI project.

Accordingly, Mr. Stumm met with several potential partners in Sri Lanka at the Ceylon Chamber of Commerce premises in Colombo. Representatives from the CCC member firms such as, Dipped Products PLC, United Tractors & Equipment Private Limited, Serendib Stock Brokers, Entrust wealth Management and Mascons Private Limited were present at the meeting.

Mr. Stumm said that Sri Lanka is one out of the few Asian countries shortlisted to set up the proposed special Steel Shapes plant. If Montanstahl AG gets the required land space, right incentives and a solid partner, the project will be soon established in Sri Lanka and will generate about 100 to 150 jobs.

If the project goes ahead, it will be the first manufacturing facility of the Montanstahl AG in the Asian region, which will feed the European market and the Asian market, such as Japan, Korea and India.

Steel Guru