New BOI company manufacturing chemicals to be set up at Biyagama Zone
Saturday, 12 April 2014 00:00
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BOI signed an agreement with S&D Chemicals Ltd. a company specialised in the manufacturing of industrial chemicals used in the textile industry as well as polymers for textile processing, coatings and water treatment operations.
The agreement was signed by Dayantha de Silva, Managing Director of S&D Associates and the Chairman of the Board of Investment of Sri Lanka, Dr. Lakshman Jayaweera. This new project will have a total value of $ 3 million. It is important to note that the company will employ 100 staff including 25 highly skilled local and overseas chemical engineers and industrial chemists. With such a skilled work force, this company whose manufacturing plant will be located at the BOI Export Processing Zone at Biyagama will be engaged in a high technology area of production.
The investor, Dayantha de Silva, a qualified chemist with postgraduate qualifications in polymer science said: “This is the first time in Sri Lanka that a company will be manufacturing the full range of products needed for textile processing and wet processing of garments. The company also has foreign offices in Bangladesh, Maldives and Vietnam and, buyers in India, Oman and Dubai. This greatly benefits the local textile industry and contributes to making Sri Lankan garments more competitive.
“We are also excited about the possibility of exporting our products in the region and our target is to become a leading manufacturer of textile axillaries, polymers, dispersing aids and polymeric coatings for different substrates in the region. In the future we are planning to diversify into other Chemicals applications as well.”
De Silva concluded: “This project was possible thanks to the assistance of the BOI and I would particularly wish to thank the Minister of Investment Promotion and BOI Chairman for their assistance in facilitating this project.”
