Tropical Green Exports launches operations in Jaffna supporting Sri Lanka’s Northern economic development
A Colombo based company, Tropical Green Exports Ltd., has reportedly launched operations in Sri Lanka’s Northern Province by declaring open two factories producing coco peat and coir recently in Eluthumaduwal and Muhamalai areas.
The opening of the facility of the collecting and processing centre at Eluthumaduwal was marked by Commander Security Forces – Jaffna Major General Priyantha Perera, according to local media reports.
The opening ceremony of the main plant of the company situated in Muhamalai was reportedly graced by Sri Lanka’s State Minister of Coconut, Kithul and Palmyrah Cultivation Promotion and Related Industrial Product Manufacturing and Export Diversification, Arundika Fernando.
According to reports, the two plants will now be positioned to collect, process and contribute to the export output of Sri Lanka in both coco peat and coir supporting the global demand for organic and eco-friendly cultivation options.
Tropical Green Exports is an environmentally conscious company that is aligned with the Sustainable Development Goals and with a special emphasis on providing employment opportunities in the North while improving female participation in the labour force, news reports further stated.
CEO and Managing Director of the company, Sheahan Arasaratnam has reportedly stated at the opening that there is much that can be done to improve the economic activity in the northern region and it is only a few multinationals that have ventured into the area in doing so.
He had further remarked that when setting up operations of this start-up enterprise both the country’s Coconut Development Authority and the National Chamber of Exporters had been greatly supportive.
Arasaratnam had added that the space for coconut by products in the market has proven robust and the company is keen to join hands with similar producers to increase the level of automation and innovation in the industry.
OSL take:
Sri Lanka’s Northern Province is an area in the island that is fast expanding as a business/investment hotspot. The area’s close proximity to India has increased its attractiveness as a business/investment hotspot. Given that Sri Lanka is fast becoming a business hub in the South Asian region given its geographical positioning in the Indian ocean and the many trade agreements as well as the trade concessions enjoyed by the country, foreign businesses/investors could explore business/investment opportunities in the island, especially the Northern Province.
| Article Code : | VBS/AT/20210422/Z_3 |