A Chinese cement manufacturer is to set up a plant in the Hambantota Export Processing Zone, the Government information department said.
The Government information department quoted Deputy Minister of Development Strategies and International Trade Nalin Bandara as saying that this is the first time a Chinese Cement manufacturer is entering the Sri Lankan market.
He further said that land allocation for the project has been already approved and environment assessments have been completed. “The Chinese company will start production next May.”
The Deputy Minister said that the Chinese cement manufacturer will source 40% of raw material locally and the value addition would increase gradually.
“Since most of the regional markets have large cement manufactures, this Chinese company would mainly concentrate on Sri Lankan markets.”
Bandara said that though Sri Lanka has many cement manufactures almost 55% are still been imported and there are lot of opportunities for the Chinese company to market cement locally.
Cement imports surged 56% to 633,000 metric tonnes in May 2018 according to available data.