Business
Sri Lanka looks to export ‘road salt’ used for de-icing roads in developed countries during winter
Road salt being sprinkled to manage snow and ice in Minnesota USA. (Internet photo)
Lanka Salt Ltd. says this could net over US$ 200mn annual income to Sri Lanka
Also says major stakeholder EPF objected to key cost-efficiency proposals
By Hiran H.Senewiratne
Lanka Salt Limited in Hambantota has received several inquiries from European countries for Road salt which is commonly used in many countries including Canada, Europe, Japan, China and even South America to melt snow during the winter season.
“The unpurified rock salt or ‘road salt’ is an affordable and commonly used chemical to de-ice roads in developed countries in the winter. Having identified this opportunity, I spoke to several European Municipal Councils through Lankan embassies and other contacts to explore the market for it which will have a huge business potential for Sri Lanka, Lanka Salt Chairman Nishantha Sandabarana told the Island Financial Review.
“This will be a new addition to the local export basket which will net over US$ 200 million annual income to Sri Lanka. Salt is used along with another chemical to melt ice in winter seasons and there is large scope for demand for the commodity, he said.
“To turn the potential into real business, we need to build a Rs. 300 million worth plant and I have found three private companies excited to invest in it as joint venture partners ensuring that Lanka Salt doesn’t need to invest in the infrastucture.” he said
“Lanka Salt has around 200 acres of salt plains and we have planned a project to solarize the entire Lanka salt facility in Hambantota which will significantly save our monthly electricity bill of Rs. 2.5 million.”
“Lanka Salt annually spends over Rs. 30 million to cover salt dumps using polythene and cadjan leaves. I planmed to build permanent concrete structures to cover these salt dumps and offer the roof to install solar.”
He said when these two projects along with other development initiatives were put forward to the Board for approval, EPF which owns a 90 percent stake in Lanka Salt objected to them for reasons best known to them.
Lanka Salt Ltd, has posted a Rs. 47 million profit in the year 2020 after having suffered Rs. 200 million loss in the year 2019 under the previous regime which was a dramatic turnaround”, the chairman said.
We are hoping to improve this to around Rs. 70 million by the end of 2021 using several new management tools and cost-cutting measures. To achieve it, we made several viable project proposals in the beginning of last year to increase this profit to a three-figure mark,” Sandabarana said.
Lanka Salt has nearly 600 unused acres of land stretching up near Yala National Park and is planning to launch a eco-tourism projects soon.
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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