“Templeburg’s $ 234 m performance shows huge promise of Lankan-based industry investments,” – Rishad

As it hit its 13th year in operations, a Sri Lankan national zonal industry venture has reported strong returns –again. “The Templeburg zone has become a model of Lankan investment based industry success and also shows the industrial zones under the Ministry of Industry and Commerce can harness promising investments generating strong returns with local capital,” said Minister of Industry and Commerce Rishad Bathiudeen.

Minister Bathiudeen announced this to his officials after inaugurating the 2012 Annual General Meeting (AGM) of the Templeburg Industrial Estate Investors Association (TIEIA) held the at Waters Edge on 10 May. TIEIA is the top collective of industry investors who had commenced their ventures at Templeburg Industrial Zone of Minister Bathiudeen’s Ministry.

The Templeburg Zone’s top performance comes as the Cabinet too granted approval on 10 May to Minister Bathiudeen’s paper that states that under the Regional Industrial Estates Development programme, 52 companies out of a total of 60 applicants have been selected to be allowed land allocation in the 25 industrial zones operating under the Ministry, bringing in another Rs. 2.04 billion in investment and 3,000 new job opportunities.

The 15 acre Templeburg industrial zone, located at Panagoda in Homagama area, has gained special status among other zones as it not only consists large scale industries but even SMEs.

The zone hosts 48 factories belonging to 35 firms and includes five FMCGs. According to TIEIA, the zone’s total industrial investments surpass Rs. 10 billion ($ 78 million) with latest overall annual turnover too exceeding Rs. 30 billion ($ 234.2 million), similar positivity to 2010.  The zone’s direct employment tops 1500 reaching almost 2000 while indirect employment exceeds 5000. Among the manufacturing sectors of the zone are bath-ware (Rocell Ltd), automotive assembly (Lanka Ashok Leyland), ready mixes (Sierra Ready Mix), metal and steel fabrication (Superior Metal Packing Ltd), food processing (Gemi Teas Colombo Ltd, Apeiron Lanka), bitumens (Bitumix Exports Ltd), electric cables and systems (Electro Metal Pressings (Pvt) Limited) and rubber (Bhagya Industries Ltd) and plastic recycling.  

“We have now approved Rs. 30 million ($ 234,247) for the internal road network repair of your Industrial Estate from our last year Ministry funds. I am confident that all of you are pleased about this initiative as it has created smooth transport network within the Industrial Estate. It is also gives me great pleasure to note that most of your business entities are well established and well known in Sri Lanka,” Minister Bathiudeen said addressing the AGM.

He added, “According to the progress report, you have provided more than 1500 direct job opportunities which is commendable. Our government lays more emphasis on local manufactures and I am glad that your contribution to the national economic progress is very much appreciated. As the Minister in charge of Industry and Commerce, I give my fullest support towards continuous progress that support achieving the targeted result highlighted in the ‘Mahinda Chinthana’ policy framework.”

Paying his tribute to the former Industry Minister C.V Gunarathne, Minister Bathiudeen said, “As the Minister-in-charge of Industry and Commerce I am proud that Templeburg Industrial Association is one of the pioneering industrial estates under the Regional Industrial Development Program of this Ministry which was brainchild of late C.V Gunarathne who served as the Industrial Development Minister at that time.  I pay my tribute to his far- sighted vision.”

Many Templeburg investors were upbeat about the success of the zone and voiced that their output and exports have been growing. “We thank the Industry Ministry for the support extended us to set up here,” said TIEIA Director Eng. Chandranandana Diyanuge and EMP Holdings Chairman, which has a Rs. 3 billion ($ 23.4 million) stake in the Zone.

“Most of the factories here are now running at full production capacity,” Diyanuge added.