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* BOI signs US$ 10 mn investment to manufacture concrete electric poles in Sri Lanka
Fri, Oct 18, 2019, 07:26 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 18, Colombo: The Board of Investment of Sri Lanka has signed a supplementary agreement with M/s Senaka Zenn (Private) Limited to set up a project to manufacture pre-stressed spun concrete electrical poles, piles and railway sleepers with an improved technology, for both local and export markets. The Initial investment made by the Company was US$ 10.3 million.

The Supplementary Agreement was signed by Mangala Yapa, Chairman of the Board of Investment of Sri Lanka and Senaka Gurusinghe, Chairman/ Managing Director of Senaka Group of Companies.

The import substitution project will save Sri Lanka considerable foreign exchange and at the same time is environmentally friendly since it reduces the dependence on wooden poles resulting in a reduction for the need to fell trees.

"Our project was started in 2016 and so far a total of 100,000 poles have been supplied to the Ceylon Electricity Board (CEB), Lanka Electricity Company (Pvt) Ltd (LECO) and Sri Lanka Telecom (SLT). The project was started as a substitute for the wooden poles used by CEB," Gurusinghe said.

"In that connection I should also stress the fact that wooden poles have a lifetime of just 8-10 years at most, hence the use of concrete poles provides a more permanent solution to the country’s requirement," he added.

Regarding the quality of manufacture of his products Gurusinghe added that "Poles are made of spun Concrete in Sri Lanka but using technology from Japan. The inside of the poles, is hollow, so, it is the same weight as the wooden poles and can be easily carried and installed. These advantages together with the environmental benefits mentioned make our products a very attractive proposition for Sri Lanka."


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