Business
Sri Lanka offers case study of organic agriculture to the world
By Sanath Nanayakkare
Shasheendra Rajapaksa, State Minister of Promoting the Production and Regulating the Supply of Organic Fertiliser and Advanced Technology Agriculture yesterday invited all countries in the world to use Sri Lanka as a case study for organic agriculture.
“We invite all countries in the world to study Sri Lanka’s experiences in Organic Farming; our methods, outcomes and shortcomings because our concerted efforts in this direction will provide a more in-depth insight into developing Organic Agriculture practices,” he said.
He made these remarks at an event where Colombo Commercial Fertilizers Ltd. entered into a Memorandum of Understanding (MoU) with Polish venture capital firm Regina Purpurea Fundus to establish preliminary parameters to form a joint venture for an Organic Fertiliser manufacturing operation in Sri Lanka.
The MoU involves a Rs. 12.8 billion funding proposal from Poland for organic fertilizer production in Sri Lanka.
Describing the proposed joint venture as a public-private partnership to power agricultural revolution in Sri Lanka, the state minister said,” We started this process from end to the front. We made the decision of going organic in our farming last April and started implementing it from May 2021. We realized that when we start a grave task of this nature, we can’t think of an appropriate point of starting. We reviewed the ground situation first. Do farmers already engage in Organic Agriculture ? How do they do it? What are the issues they face when switching to Organic Agriculture? We explored how other countries do this. We started it after studying all that. Today we have taken a decision to go for 100% Organic Agriculture in a systematic way.. The MoU we signed today would be a key step in that direction. The main need to realize this objective is the production of Organic Fertilizer. As the world has embraced this concept, we are trying to make Sri Lanka the first country in the world that engages in 100% Organic Agriculture. We need to learn from the world. We need to get insights from not only the local private sector but also from the foreign private sector. As we move forward in this journey, Sri Lanka will provide a good case study of Organic Agriculture to the world,” he said.
This public-private partnership (PPP) was formalised in the presence of Secretary to the Ministry of Agriculture, Prof. Udith K. Jayasinghe, State Minister Shasheendra Rajapaksa and Secretary to the State Minister M. N. Ranasinghe.
The MoU was signed by Polish entrepreneur Hubert Drabik, Founder and President of the Board of Regina Purpurea Fundus, and Chairman of Colombo Commercial Fertilizers Ltd.
Regina Purpurea Fundus (RPF) is a Polish venture capital consortium working with development-oriented governments and organisations to invest in a wide range of initiatives aimed at sustainable economic growth both domestically and internationally.
RPF is supported by the Polish Ministry of Agriculture, the Polish Chamber of Commerce, and a number of state banks of Poland.
RPF intends to design, finance, build and operate the large-scale project with a total investment of LKR 12.8 billion, with proof of availability of funds.
The operation will be spread out across four plants in Trincomalee, Monaragala, Anuradhapura and Hunupitiya, supported by a testing and certifying laboratory, and will contractually produce an annual capacity of 200,000 metric tons of organic fertilizer for Colombo Commercial Fertilizers Ltd (CCFL) on an exclusive basis.
A comprehensive due diligence investigation of the investment proposal and funding capacity will be carried out by CCFL with mutual cooperation from RPF to its satisfaction within the next two weeks followed by Cabinet approval of the project. All parties will then enter into a more comprehensive Joint Venture Agreement with detailed conditions mutually agreed upon within three weeks from the signing of the MOU.
Poland’s RFP will produce organic fertilizer for Colombo Commercial Fertilizers Ltd in above mentioned capacity for 20 years, ensuring a return on investment (ROI) for the company before handing over the total project to Sri Lanka.
The Polish company said 100% Sri Lankan inputs would be used for the production of organic fertilizer at the proposed facilities and no ingredients would be imported for the purpose
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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