Sri Lankan Board of Investment has entered into an agreement with S & D Chemicals (Pvt) Ltd., to set up new chemical plant which will manufacture products considered necessary for textile processing and wet processing of garments, will be a big boon for its local textile industry.
S & D Chemicals is specialized 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 inked between Dayantha de Silva, Managing Director of S & D Associates and a qualified chemist with postgraduate qualifications in polymer science and the Chairman of the Board of Investment of Sri Lanka, Dr. Lakshman Jayaweera. This new project will have a total value of US$ 3 million.
Its manufacturing plant will be located at the BOI Export Processing Zone at Biyagama, will be have high technology area of production. Under the agreement, the Company will employ 100 staff including 25 highly skilled local and overseas Chemical Engineers and industrial chemists.
The company has offices in Bangladesh, Maldives and Vietnam and, buyers in India, Oman and Dubai.
The company is looking at the opportunity to export their products in the region and also as a target to be the leading manufacturer of textile axillaries, polymers, dispersing aids and polymeric coatings for different substrates in the region. They also have plans to diversify into other Chemicals applications as well in near future.
According to the investor, De Silva, the project was possible due to the assistance of the BOI and the Minister of Investment Promotion. Of the first time in Sri Lanka, a complete series of products essential for textile processing and wet processing of garments will be manufactured, which will be of great support to local textile industry and add to making Sri Lankan garments more competitive.
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