United Kingdom invests on Cement and Fertilizer industries

Two British entrepreneurs expressed their interest in setting up their industrial ventures in Sri Lanka. AML Products, a UK based conglomerate, will invest money in partnership with Sterling Investments and Development Lanka (Private) Limited and D M L Holdings (Private) Limited. Board of Investment of Sri Lanka granted investment approval to both Sri Lankan companies to work to manufacture in collaboration with their British investor.

The agreements signed with Sterling Investments and Development Lanka (Private) Limited and D M L Holdings (Private) Limited will lead to manufacturing of cement and fertilizer for export. The UK based AML Products, the collaborator, engages in trading commodities in Eastern Europe. The two ventures will create 100 new employment opportunities initially and is expected to commence commercial operations within two months.

The investment agreement with Sterling Investments and Development Lanka (Private) Limited worth US $ 5 million is for a project for grinding and bagging of cement. The venture will establish four state-of-the-art manufacturing plants, including Galle, Vavuniya and Colombo. The products will be exported to countries such as Tanzania and Libya, and will also be provided to the local market.

D M L Holdings, a project under Nipayum Sri Lanka 300 Enterprises Programme signed an agreement to manufacture fertilizer for local and export markets. The fertilizer will be manufactured in a fully automated state-of-the art manufacturing plant at Wenappuwa using locally available raw material. The company will manufacture fertilizer such as single super phosphate, triple super phosphate, and diammonium phosphate. The products will be provided to the local market and also exported to countries such as Tanzania, Libya and Bangladesh.(JS)

- Government Information Department