Sri Lankan company expands into the import and distribution of cement with Indonesia’s Gama Corporation
An Indonesian firm and Colombo based Pyramid Holdings, Gama Corporation is reportedly planning to commence a joint venture with Sri Lanka’s Melstacorp Plc., to import and distribute cement.
According to reports, Melsta Gama (Pvt) Ltd, will import, process, package and distribute cement.
It is a joint venture with Pyramid Gama (Pvt) Ltd, which has been formed by the Gama group and Pyramid Holdings (Pvt) Ltd, which is oils and fats business, local media reports state.
Melstacorp has reportedly stated that the project cost is estimated to be US$ 20 million. The shares of the partners were not disclosed.
The joint venture between Sri Lanka’s Melstacorp Plc and Indonesia’s Gama Corporation to form Melsta Gama (Pvt) Ltd in order to import and distribute cement is yet another instance of a partnership formed between a Sri Lankan business entity with a foreign company. It is an indication of the opportunities for foreign companies to form partnerships with local companies.
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