Sri Lanka’s ISF inks partnership with NICO COCO to revolutionise coconut processing in Indonesia
Daily FT: ISF, a leading end-to-end engineering solution provider for the coconut and dairy processing industries in Sri Lanka, has signed a Memorandum of Understanding (MOU) with PT. Natural Indococonut Organik (NICO COCO), Indonesia’s leading coconut products manufacturer.
The agreement, signed on 7 October at the INASCA (Indonesia South and Central Asia) Business Forum in Jakarta, Indonesia, is set to drive significant advancements in coconut processing technology in the region. Through this partnership, ISF will design state-of-the-art coconut processing plants for NICO COCO, bringing its decades of expertise to the forefront for the Indonesian market.
A Sri Lankan company that has also established itself as a prominent player in India, ISF has nearly five decades of industry experience. Known for its expertise in designing and manufacturing processing equipment, ISF provides innovative end-to-end solutions tailored to the needs of the coconut and dairy processing companies. The company’s commitment to reducing manufacturing costs by improving productivity and introducing automation and energy-efficient solutions in all its processes has made it a leader in its field. ISF’s automated process solutions, which incorporate artificial intelligence (AI), deliver real-time management information and cost-saving measures that are in line with the latest technological developments.
The company’s collaboration with NICO COCO marks a pivotal step in ISF’s strategic vision to expand into Southeast Asia. By leveraging its technical capabilities and innovative solutions, the company will play a key role in enhancing NICO COCO’s production capacity and operational efficiency. This partnership is expected to reshape the coconut processing industry in Indonesia, paving the way for ISF Industries to solidify its presence in the region and capture new markets.
Discussing the significance of the partnership, ISF Director Anjula Sivakumaran explained, “We are excited to partner with NICO COCO, one of the prominent brands in the coconut processing industry in Indonesia, and we are committed to providing them with state-of-the-art automated designs incorporating the latest technology. This initiative will pave the way for ISF to become a leading solutions provider for the coconut processing industry in Indonesia and the Southeast Asian market.”
NICO COCO, part of a major Indonesian conglomerate, views ISF Industries as a strategic partner in its efforts to modernise and expand its operations. NICO COCO Chief Operating Officer Susanto Kusnadi said, “We have identified ISF as a leading ‘end-to-end’ solutions provider for the coconut processing industry, and their innovative approach and experience will be vital to our project’s success. We look forward to continuing our collaboration.”
OSL take:
Sri Lanka’s private sector has shown great strength, resilience and growth in the past few years even amidst challenging economic conditions faced by the country in the past few years. It is also a further indication of the strength and resilience of Sri Lanka’s overall economy. However, with the country engaged in expanding economic activities while working towards becoming a hub in the South Asian region, private sector businesses are also in the process of recording growth and expanding operations locally and internationally. Given the increasing business potential in Sri Lanka and the interest shown by foreign businesses/investors to explore the expanding business/investment opportunities in the country, local businesses have also presented growing opportunities as ventures open for joint collaborations with foreign businesses/investors. It is in such a backdrop that a local business had entered into a partnership with an Indonesian entity expanding operations to Indonesia. There are similar ventures that have shown growth and profits through the years while using the strong trade ties enjoyed by Sri Lanka with other countries to expand the operations of these joint ventures. With all these developments, foreign businesses/investors could explore increasing opportunities in local businesses to expand operations.
| Article Code : | VBS/AT/20241018/Z_9 |