Korean firm setting up container factory in Trincomalee with $ 50 m investment

Friday, 16 December 2022 00:20 - - {{hitsCtrl.values.hits}}

Yakdong Industries Co. Ltd., one of the 10 leading companies in Korea is to invest $ 50 million in the establishment of a large scale container manufacturing factory in Trincomalee, according to the office of Prime Minister Dinesh Gunwardena.

Yakdong Industries Chairman Heung SeokGwon and the Vice Chairman Kyeong Won Shin called on Premier Gunawardena on Wednesday and assured that the constructions of the factory will be completed soon so as to commence production within the next six months.

The factory will be established across 50 acres site in Trincomalee and the expected production is 10,000 containers per month. It has already selected 32 welders from Sri Lanka to work initially in Korea and they will be used to supervise the employees in the Sri Lankan factory in future. They will recruit 70 more employees to the factory.

A statement from Prime Minister’s office said that leading international freight companies have already given orders to build containers. The factory will also purchase discarded containers to be renovated and used for several other purposes such as sales outlets, dwellings, agricultural purposes etc.