Dutch CSI partners with Sri Lanka’s Tropical Green Exports to enter coconut substrate sector
Ceasar Sustainable Invest BV (CSI) has reportedly announced recently its partnership with Tropical Green Exports after identifying the potential of the coconut substrate sector as a key economic driver in Sri Lanka’s Northern Province.
Tropical Green Exports Ltd. specialises in manufacturing, supply and distribution of export quality coco peat used in the hydroponics industry and as an alternate growth medium to soil, according to local media reports.
The global trend of the industry is indicative of positive growth with Sri Lanka at the forefront as a raw materials exporter, reports have further noted.
Accordingly, at present, the company owns two plants within the Jaffna Peninsula and works closely with industry leaders. Once a single owner start-up, the Company is now powered by CSI, a Dutch investment company looking into sustainable business solutions.
Tropical Green Exports Managing Director Sheahan Arasaratnam, recalling his journey from being a corporate sector leader into a start-up enterprise owner, has been quoted as saying that it is an interesting time to be in an environment where early-stage startups and business incubation is challenging. However, he was encouraged by CSI’s move to invest in the company and saw it as being reflective of the robustness of sustainability-driven business initiatives.
According to reports, CSI joins the company as a strategic partner who is able to supplement the startup capital and as an active stakeholder of the business by providing market access opportunities into Europe, the largest trading partner of Sri Lanka.
He has reportedly added that the strong support of the Coconut Development Authority in providing guidance and assistance has been vital in becoming competitive in a relatively short span of time.
Commenting on the partnership CSI’s Head Menno Keizer has added that the trade relations between Sri Lanka and the Netherlands have been long-standing and his personal ties with Sri Lanka predates many decades.
He has pointed out that the collaboration comes at a time that the global economy will rely on products and services that are looking to offer solutions to global issues, such as food security.
OSL take:
Sri Lanka is fast becoming a business hub in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. The economic expansion in Sri Lanka despite the challenges poses by the global Covid 19 pandemic has increased the level of confidence in the country’s economy by foreign businesses/investors. Also, the aggressive development programme covering all key economic sectors in the country launched by the government of Sri Lanka has opened up many business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20210521/Z_2 |