SL companies should be vigilant of rogue investors
View(s):While needing foreign investment, Sri Lankan companies must be vigilant of rogue investors, according to long-time concrete industry professional Ramiah Ramanadan, a pioneer in the field of ready mix concrete locally.
Ramiah Ramanadan
Elaborating, he further commented that, in his experience, there were rogue foreign investors who come to Sri Lanka, and only invest minimally so that they could then “hijack” well-run and managed local companies solely for personal gain. The turnover from these companies is then typically moved overseas, ultimately being of no benefit to this country.
According to a statement containing his remarks; “Ramiah Ramanadan is no stranger to the ready mix concrete industry for over 10 years; he has been closely associated with the industry’s expertise. Having cut his teeth in the ready mix concrete industry in Japan, where he learnt of this highly professional trade, Rama as he is fondly known, is well known and is familiar with the expertise required by Japanese firms and other multinational companies in their mega projects in Sri Lanka”.
Additionally indicated, he has handled “large infrastructural projects from his initial days working with the Japanese companies; one of his biggest projects was to supply Fly Ash to Upper Kotmale Hydro Power Project and to the Colombo Port Project handled by Hyundai Engineering”.
The statement noted that, “In 2010, ready to expand, Rama started a venture, Concrete Solutions Technology Lanka with an investor from overseas who had been impressed with Rama’s unblemished credentials as a top professional in the industry… Under licence from Chryso of France, one of the worlds’ leading multinationals in the industry, his company commenced manufacturing of admixture. Rama has shared expertise and advice from Chryso with the industry here, conducting seminars for the civil construction fraternity and many others, contributing towards goals of sharing international know-how with Sri Lankans. He has also introduced many innovative processes to the construction industry”.
It was also added that among the projects handled by “Concrete Solutions Technology Lanka under Rama’s leadership [were] projects of China Harbor outer circular highway, Taisei Corporation, Access Engineering and Tokyo Ready Mix. The company has also handled sites in Nuwara Eliya offering know-how for the process of speeding up the drying process of concrete blocks”.
Further, it was also stated that, while he has since “resigned from Concrete Solutions Technology Lanka presently, his reputation as a reliable and an innovative concrete professional continues to stay unblemished in the industry”.
(JH)
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