Sri Lanka’s JAT Holdings inaugurates Rs. 1.52 b worth binder plant
The Morning: JAT Holdings PLC, a leader in wood coatings and brushes in Sri Lanka, announces the grand opening of its cutting-edge binder plant in Horana. This milestone event, a testament to JAT’s dedication to innovation and operational excellence, follows months of strategic planning and construction.
The new binder plant began operations in March, with the project valued at Rs. 1,521,256,438. The official ceremonial opening was held on 7 June, marking a significant achievement for the company.
This state-of-the-art facility will complement JAT’s Alkyd Resin Plant in Bangladesh, strengthening its cross-border manufacturing capabilities. Supported by JAT’s premier R&D Centre in Sri Lanka, the binder plant will enable the company to produce its own binders, essential for wood coatings and emulsion paint. This backward vertical integration is set to optimize production efficiency and enhance product quality, delivering greater value to customers.
Additionally, JAT Holdings plans to export excess production from the Horana plant, further expanding its market reach and introducing more cost-effective, high-quality products.
The establishment of this advanced binder plant underscores JAT Holdings’ ongoing commitment to innovation, quality, and customer satisfaction.
OSL take:
Many businesses in Sri Lanka’s private sector are currently engaged in expansion programmes that indicate the strength, resilience and growth of the country’s private sector as well as the overall expansion of the economy. Sri Lanka’s private sector managed to face the challenging economic conditions faced by the country in the past few years while being able to quickly return to the growth path. The opening of the latest plant by JAT Holdings is a clear indication that there’s a growth in business/investment opportunities in Sri Lanka given that the country’s private sector is also engaged in investing and expanding operations. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed with other countries have all helped boost the country as an emerging business destination in the South Asian region Given the growth and business potential in Sri Lanka, foreign businesses/investors could confidently explore the expanding opportunities while also looking at forming collaborations with local businesses with the aim of further expansion.