Lankapage Logo Recent Top Stories
CP 13 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka graphite export firm signs agreement with BOI
Thu, Nov 15, 2012, 12:25 am SL Time, ColomboPage News Desk, Sri Lanka.

Nov 14, Colombo: Sri Lanka's investment promotion agency, Board of Investment (BOI) has signed an agreement with Plumbago Lanka (Pvt) Ltd for a venture that will invest US$78 million over the next 4 years to mine and export value added graphite.

Plumbago Lanka, an Esna Group company plans to make a significant contribution to the local economy by investing US$20 million initially to revive the export-orientated industry.

Plumbago Lanka, under the direction of Eshana De Silva, the Chairman of the Esna Group of companies, will hold a 25% stake in the venture.

The BOI has said the project is very important to the BOI which has sought to promote projects where value addition has been applied to local natural resources and the export of value added graphite will be beneficial to Sri Lanka's economy.

Graphite has many industrial applications and projects such as that of Plumbago Lanka (Pvt) Ltd will receive the continued support of the agency, the BOI has said.

The BOI last month signed a US$ 15.2 million agreement with Sarcon Development (Pvt) Ltd. of Sri Lanka to export value added graphite.

Sri Lanka's crystalline vein graphite has high quality with purity levels ranging from 80-99% of carbon.

The short term demand for graphite is expected to grow at 4-5% and may rise to as much as 20% by 2020.



ColomboPage - Recent 10 Stories
Colombo's first Seychelles forum attracts Sri Lankan businesses
-- [2 hours ago]
Sri Lanka main ruling party denies any connection to attacks on opposition political party offices
-- [2 hours ago]
Sri Lanka police opens new station in Nilaveli
-- [3 hours ago]
External Affairs Minister reviews progress of Sri Lankan missions in Europe
-- [3 hours ago]
India-assisted industrial park in former Sri Lanka war zone to attract potential local and foreign investors
-- [4 hours ago]
India funded development projects worth Rs. 365 million inaugurated in Northern Sri Lanka
-- [4 hours ago]
Sri Lanka Tourism's mega taxi advertising campaign in Germany draws high response
Sri Lanka launches program to grant concessionary loans to Divineguma beneficiary families
Sri Lanka Election Commissioner asks IGP to strengthen security in Uva Province
SME's in Japan invited to set up their manufacturing facilities in Sri Lanka

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.