Ceylon Steel Corporation is one of the three industrial projects along with Ceylon Tire Corporation and Ceylon Sugar Corporation, which were established in Sri Lanka by the support of Soviet Union during the cold war era. After winning the 1960 parliamentary election,[1] Sirimavo Bandaranayake continued with the pro-socialist vision of her late husband and further strengthen Sri Lanka's relations with socialist countries. The Ceylon Steel Corporation was started in 1962 under the supervision of Maithripala Senanayake who was the Commerce and Industrial Minister of her government.[2] A. N. S. Kulasinghe was appointed the first director of the organisation. In 1996 the organisation was sold to Hanjung Steel, now a member of the Doosan Group of South Korea.[3][4] This deal was considered as a corrupted[citation needed] one occurred during the period President Chandrika Bandaranayaka, who is the daughter of founder Sirimavo Bandaranayaka. In 2009 the company was acquired by the UAE based Onyx Group which owned by the Sri Lankan businessperson Nandana Lokuwithana and re-branded as "Ceylon Steel" Corporation Limited.[5][6]