Business
Eco Spindles ramps up efforts in driving forward Sri Lanka’s sustainability agenda; aims to increase plastic recycling by 10%
Eco Spindles, Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes, has significantly bolstered Sri Lanka’s recycling capabilities by creating an ecosystem for recycling within the country.
This year, the company has seen the culmination of its significant investments and efforts in setting up an efficient mechanism for the collection of plastics, creating a network of corporate partnerships and increasing consumer awareness.
These efforts collectively seek to raise Sri Lanka’s recycling rate of Polyethylene Terephthalate (PET) plastics from around 15% at present to 20% to 25% by the end of 2022.
“Recycling requires collaboration between diverse stakeholders, ranging from households to collectors to the private sector and beyond. Hence, Eco Spindles identified that creating a cohesive ecosystem for recycling is critical in laying a foundation for a culture of recycling in Sri Lanka. We have managed to bring the necessary stakeholders and build such a foundation to strengthen and expand recycling in the country,” explained Manoj Udawatte, CEO – Eco Spindles Recycling.
The company’s investments in recycling infrastructure enable Eco Spindles to collect approximately 6 million PET bottles monthly in Sri Lanka. This is expected to increase to more than 9 million PET bottles once the tourism industry recovers.
These PET plastics are collected through corporate and other partners, collectors and drop-off bins for consumers/households. Drop-off bins can be located using the ‘Waste 2 Value’ mobile app available on the Google Play Store and (Apple) App Store. Currently, there are more than 400 drop-off bins in the Western Province and 50 in other areas in Sri Lanka. By the end of 2022, Eco Spindles intends to more than double this network by having 700 drop-off bins in the Western Province and 300 in other areas of the country – bringing the total within the island to 1,000.
The company has also mobilized a network of collectors to obtain used PET bottles. Currently, more than 500 collectors are registered with the company. In addition to strengthening recycling, this provides an essential source of additional income to low-income groups – such as coastal communities– particularly since the company pays the highest rate in the market for PET bottles.
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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