Orzone Group becomes Sri Lanka’s first PET bottle exporter
Daily FT: The Board of Investment approved Ackzorne Lanka Ltd., a subsidiary of Orzone Mineral Water Exports Ltd., recently became Sri Lanka’s first exporter of polyethylene terephthalate (PET) plastic bottles.
It shipped a 40-feet-high cube container of bottle caps to the United States of America.
This project was launched under the instructions and guidance of Orzone Mineral Water Exports Ltd. Chairman/Managing Director Dr. Upul B. Senarath and Directors Aruna S. Senarath and Neal N. Senarath. Bank of Ceylon (BOC) Chairman Ronald C. Perera, General Manager Russel Fonseka, Deputy General Manager M.R.N. Rohana Kumara, Assistant General Manager N. Krishnakumar, BRRU Relationship Manager J.M.K.H. Bodhiratne, Eranda D. Rajapakshe and BOC staff also played a significant role in implementing the project.
Orzone Mineral Water Exports Ltd., was established in 1994 and has been exporting drinking water bottles for over 30 years. As an extension, Ackzorne Lanka Ltd., was established in 2011 to save foreign exchange spent on imports of PET bottles by manufacturing them in Sri Lanka itself.
The bottles and bottle caps are manufactured using Japanese technology and modern machinery. As a result of the commitment of the company’s management and staff, the project has achieved continuous success. Dr. Senarath said that their aim was to contribute to empower the country’s economy by expanding this project, exporting more products, and earning foreign exchange.
OSL take:
Sri Lanka’s businesses, especially in the private sector, are on an overall growth path. Local businesses have posted profits even amidst challenging economic conditions indicating the strength and resilience of Sri Lanka’s overall economy. With Sri Lanka’s overall economy on a growth path after facing the challenges posed by the global pandemic and the economic crisis that followed, the country’s private sector businesses, especially in the manufacturing industry are on an expansion path. There’s an increase in business/investment opportunities in the development of infrastructure and supplementary infrastructure facilities required by the country’s manufacturing industry among others. Given Sri Lanka’s growth and business potential, foreign businesses/investors could explore the expanding opportunities in Sri Lanka.
| Article Code : | VBS/AT/20240110/Z_4 |