Sri Lanka’s Alumex invests Rs. 1 billion to boost capacity and exports.
Daily FT: Alumex PLC has invested Rs. 1 billion in a state-of-the-art new melting facility in Sapugaskanda to produce low carbon aluminium, by the brand name ‘Ozon’, incorporating the most modern and environmentally-friendly technologies in the world.
The company said the automation-driven optimisations are expected to cut energy consumption by up to 20%. The material is expected to assist the Sri Lankan construction sector’s efforts to sustainably reduce its environmental and carbon footprint.
Building sustainable innovation into Sri Lanka’s construction sector, Hayleys Group subsidiary and national leader in fully integrated aluminium manufacturing, Alumex, last week announced the ground-breaking launch of Low-Carbon Aluminium for the global market.
The company’s newly launched range of Low-Carbon Aluminium ‘Ozon’, follows the successful Phase 1 opening of the manufacturer’s new state-of-the-art melting facility at Sapugaskanda to develop export markets. With an investment of over Rs. 1 billion, further capacity building will take place through a second phase.
Incorporating the most modern and environmentally-friendly technologies in the world, the new facility enables Alumex to produce the highest quality aluminium billets utilising just 5% of the total energy consumed in primary aluminium manufacturing from bauxite. Further automation-driven optimisations are expected to cut energy consumption up to 20%.
According to Alumex Managing Director Pramuk Dediwela, the material is expected to add new life to the Sri Lankan construction sector’s efforts to sustainably reduce its environmental and carbon footprint. Its newly launched brand for its raw material ‘Ozon’ will maintain the exporter’s commitment to the highest global quality standards.
Given the high demand from overseas buyers for Ozon billets, especially from the USA, UK, Europe and Australia markets, Low Carbon Aluminium supports us to drive increased export revenue to the country.
“Aluminium is a material with infinite possibilities and a near limitless lifecycle. When processed correctly, it can be used, melted down, and reshaped with near zero loss in quality and physical integrity. Our new facility supports our efforts to enable greater circularity, drastically reduce our environmental impact and energy dependence, and deliver the highest quality products in South Asia to both local and global markets.”
OSL take:
The investments by Sri Lanka’s private sector business entities to boost capacities and expand operations are indicative of the strength and growth of the country’s private sector. Many private sector businesses have also posted impressive profits in the past few quarters despite challenging economic conditions portraying Sri Lanka’s overall economic resilience. The country is also working towards becoming an emerging business destination in the South Asian region supported by the country’s geographical positioning in the Indian Ocean and the many trade agreements as well as concessions enjoyed by the country. All these indicate a business conducive environment for foreign businesses/investors to explore and invest in opportunities in the country. Foreign businesses could also look at forming partnerships or joint ventures with local businesses to expand operations.
| Article Code : | VBS/AT/28092022/X_2 |