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Sri Lanka's Alumex buys land to expand capacity

Jan 11, 2017 09:38 AM GMT+0530 | 1 Comment(s)

ECONOMYNEXT - Sri Lanka's Alumex Plc, an aluminium extrusions firm, said it is purchasing land for Rs420 million to expand capacity.

The Hayleys group unit said it was buying the land from Hayleys Fibre.

Hayleys Fibre said the land in Minuwangoda Road, Ja-Ela, was now rented out to third parties, the firm said in a stock exchange filing.

Hayleys Firbre said the deal was on 'normal commercial terms'.
 


 

1 Comments

  1. Nimal January 13, 06:23 AM

    If the Alumex group is dealing with Aluminium then why not produce the Aluminium ingots in the Country? They could import the raw Bauxite from Indonesia and convert it into pure Aluminium using electricity.They could buy 10,000Acres of land and install solar panels,wind generators to produce D.C.electrical power to breakdown Bauxite to pure Aluminium. When the plant is not in operation then they could sell the excess power to the grid.

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