Colombo (Sri Lanka), Jan 23 : A Chinese firm is to set up a cement plant in Hambantota where Beijing already controls the strategic port, in an indication of China’s increasing footprint in Sri Lanka.
Sri Lanka’s Deputy Minister of Development Strategies and International Trade, Nalin Bandara, said the Chinese firm would set up its plant in the Hambantota Export Processing Zone, and added that this is the first time a Chinese cement company is entering the local market directly, Lanka Business Online reported.
“This Chinese company would mainly concentrate on the Sri Lankan market,” Bandara said.
“Even though, we have many manufacturers, almost 55 percent of the local consumption is imported. Therefore, there is an opportunity for a new manufacturer to market cement locally.”
He said that land allocation and environmental assessment for the cement plant have been completed, and the plant is expected to start production in May 2020.
The Chinese company is expected to source 40 percent of raw material locally and intends to increase it gradually.
Sri Lanka currently has several players active in the cement industry which caters to domestic demand. It also imports cement from various plants in neighboring countries.
Sri Lanka has leased Hambantota port to the state-run China Merchant Ports Holdings Ltd for a period of 99 years, a move that has caused concern in neighbouring India.
Pingback: british dragon labs reviews
Pingback: axiolabs dbal
Pingback: 먹튀검증-967
Pingback: W88
Pingback: เงินด่วนทันใจ
Pingback: Vape Shop
Pingback: pinewswire.net
Pingback: Bitcoin Era Review 2020
Pingback: immediate edge
Pingback: Earn Fast Cash Now
Pingback: Sony CDX-3700 manuals
Pingback: Digital Transformation solutions
Pingback: Baytown roofer
Pingback: Mossberg firearms
Pingback: W88
Pingback: it danışmanlığı
Pingback: Bilad Alrafidain University |Bilad |Alrafidain |college students
Pingback: hemp oil ultra premium
Pingback: valid cvv
Pingback: credit travaux faire un
Pingback: เงินด่วนสตึก
Pingback: sbobet
Pingback: dmt vape australia
Pingback: Spectrum crime
Pingback: anti screenshot
Pingback: Best universities in Africa
Pingback: cornhole distance
Pingback: Your Domain Name
Pingback: Website
Pingback: browse around these guys
Pingback: buy night hawk custom guns
Pingback: Sex Live Gratis Free Adult Cams
Pingback: cartel oil
Pingback: psilocybin mushrooms for sale oregon
Pingback: Toyota 2023 ราคา