Business
Tokyo Cement invests Rs. 2.5 bn in Colombo Port Terminal capacity expansion
Tokyo Cement Group recently commissioned operations of the newly expanded capacity at the Tokyo Cement Colombo Port Terminal in a soft opening ceremony. The event is the culmination of a 2.5 billion rupees worth investment by the cement giant, held under the auspices of S.R. Gnanam, Managing Director and Christopher Fernando, Executive Director of Tokyo Cement Co. (Lanka) PLC. This operations expansion further reiterates the Company’s commitment to boost the local economy as a truly Sri Lankan organisation.
Once fully operational the Tokyo Cement Terminal situated inside the Colombo Port will be geared to handle a total capacity of 450,000 Metric Tons of Cement per annum. With the newly commissioned storage, bagging and distribution capacity expansion project Tokyo Cement provides a fresh assurance of an uninterrupted cement supply for customers in the Western Province.
The capacity upgrade of the Tokyo Cement Colombo Terminal will come online when all three new cement storage silos, each with a capacity of 6,000 MT, become fully operational. This terminal expansion ramps up Tokyo Cement’s total bulk cement imports operation from 600,000MT p.a. to over 1,000,000MT p.a. to supplement Tokyo Cement’s local production capacity of over 3,000,000MT p.a. Adding more storage and local distribution capacity to the bulk cement operation will result in better local value creation that benefits a vast network of suppliers attached to local packaging, distribution, and logistics operations as opposed to importing bagged cement as a finished product.
In line with this expansion, the company doubled bulk cement distribution operations carried out at the Tokyo Cement Colombo Terminal from 30,000 MT to 60,000 MT during the month of December. Apart from providing a firm solution to prevent the cement shortage prevalent in the market currently, this move ensured efficient cement distribution to reach consumers in every part of the island.
This is initiated as part of the Company’s readiness plan to cater to the growth in demand in the local construction industry. In addition, the Company also laid foundations recently for a factory expansion project that will increase its manufacturing capacity by another 1 million Metric Tons. Through these unified efforts focused on enriching the local economy through local value addition, Tokyo Cement Group strongly reaffirms the company’s position as the leading partner in nation-building.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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