Sri Lanka looks at PPPs to diversify business at resurrected National Paper Corporation in the East
Sri Lanka’s Minister for Small and Medium Business and Enterprise Development, Industries and Supply Chain Management, Wimal Weereawansa has reportedly said that plans were underway to convert 300 acres belonging to the Valachchenai Paper Corporation in the country’s Eastern Province in to an investment park and tourism zone and also have the world’s largest ‘Print Museum.’
The Minister has said that in addition, steps would be taken to set up one of the largest solar parks in the Valachchenai Paper Mill premises thereby earning additional revenue.
According to reports, the plant also has a water recycling plant and this will be redeveloped to provide clean drinking water to hotels and will also have a water bottling plant.
“We hope to get a financial injection of Rs. 800 million from the government for this,” the Minister has been quoted as saying.
For some of the projects the Minister is looking at implementation through a public private partnership (PPP).
Chairman of Sri Lanka’s National Paper Corporation, Wimal Rupasinghe has said that the main raw material required is recycled paper which is now imported from India.
He has added that plans are also underway to use one of the abandoned buildings in the premises to house a state of the art ‘technical workshop’ to service the vehicles and boats in the area, which would generate additional revenue.
The state owned paper mill that has restarted operations is a hotbed for foreign businesses/investors to explore business/investment opportunities. The plans to set up a print museum and water recycling plants would definitely be tourist destinations in Sri Lanka’s eastern coast. Therefore the two projects would definitely provide good financial returns to the investors. Foreign businesses/investors interested in these ventures could initiate discussions with the government of Sri Lanka on forming a public private partnership for the project.
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