Lankem Ceylon Invests Rs. 2.5 Billion in New Fertilizer Plant
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Lankem Ceylon Invests Rs. 2.5 Billion in New Fertilizer Plant

Lankem Ceylon PLC, a leading entity in Sri Lanka’s corporate sphere, has formally announced plans to venture into fertilizer manufacturing with the establishment of a new plant in Oyamaduwa, situated within the Anuradhapura district. This initiative, in accordance with Section 8 of the Listing Rules, marks a significant strategic move for the company.

To oversee this ambitious project, Lankem Ceylon PLC has established Lankem Minerals Limited, a fully owned subsidiary. The project’s first phase requires an estimated capital investment and initial working capital of approximately Rs. 2.5 billion. Construction of the facility is scheduled to commence shortly, with commercial operations anticipated to commence by the year’s end.

“The primary objective of this initiative is to meet the agricultural requirements, particularly for non-perennial crops,” remarked a spokesperson from Lankem Ceylon PLC. Leveraging its established distribution network, including its subsidiary SunAgro LifeScience Limited, the company intends to market and distribute the fertilizer produced by the new facility.

Lankem Ceylon PLC is optimistic about the growth prospects in the fertilizer market and aims to enhance its contribution to Sri Lanka’s agricultural sector through this strategic endeavor.

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