Trinco to get $2.4 bln steel plant investment

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.