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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sri Lanka's Alumex to be export competitive with new plant Aug 15 2018

Sri Lanka's Alumex to be export competitive with new plant Aug 15 2018

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ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
ECONOMYNEXT- Alumex Plc, which has commissioned Sri Lanka's largest aluminium extrusion plant says it is eyeing exports and plans to compete strongly in a domestic market with import tax protection that forced customers to pay high prices to be phased out in the future.

With the opening of a two billion rupee plant with the most modern technology and an output of 1,200 metric tonnes a month, Alumex is trying to reduce prices and meet global competition.

“We’re trying to match the prices of the United Arab Emirates," Managing Director Pramuk Dediwela said.

"If we can match those prices, we don’t have to worry about imports coming from any part of the world."

He said that aluminium products in the UAE have high standards at low cost.

The Sri Lankan government has announced plans to remove all protectionist tariffs by 2020 to make the economy competitive.


cont........https://economynext.com/Sri_Lanka_s_Alumex_to_be_export_competitive_with_new_plant-3-11537.html

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