SRI LANKA RELAXES APPROACH TO FOREIGN STEEL INVESTMENTS
February 1st, 2014
Sri Lanka could be relaxing its restrictions on foreign investment in the steel industry as construction projects aimed at building 35,000 hotel rooms across the country by 2016 get underway. Its government announced last June that it would curtail steel-related foreign investments to encourage local manufacturers to create locally-owned steel-making capacity, but the hotel-fuelled construction boom is generating demand that local manufacturers may struggle to meet.Government spokesman and mass media and information Minister Keheliya Rambukwella said that ...
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