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
Sri Lanka 2015 Budget highlights
-- [9 hours ago]
UN recognizes post war progress in Sri Lanka, works with government to resolve reconciliation issues
Former Power and Energy Minister of Sri Lanka clears himself of Rs. 1.5 billion fraud in coal purchase
New secretary to Sri Lanka Sports Ministry assumes duties
Commonwealth Secretary-General to visit Sri Lanka tomorrow
Murali Harmony Cup 2014to launch on 29 October in Sri Lanka's North
President presents Sri Lanka's next year budget promising relief for all sectors
Sri Lanka's 2015 budget focused on long term development - Central Bank Governor
Sri Lanka joins China-led Asian Infrastructure Investment Bank
Sri Lanka hires eighth lobbying firm in the US

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.