Connect with us

Business

Newly restored Embilipitiya Paper Mill to save outflow of dollars

Published

on

Korean SPA Packaging (Pvt.) Ltd. (KSPA), recently signed an agreement with the Board of Investment (BOI) with respect to the resumption of the operation at the defunct Embilipitiya Paper Mill, which had discontinued its production since 2012. The project, which is a USD 16 Million-investment in its first phase, aims at manufacturing industrial grade papers for the direct and indirect export market by upgrading machinery and infrastructure.

Embilipitiya Paper Mills, belonging to the National Paper Company Limited is the second oldest paper mill in the country set up in 1978. However, the operations came to a standstill in 2003 and though it resumed operations in 2011, it became a very short stint as the paper mill was closed again in 2012.

Subsequently, the factory was up for sale and this is when the KSPA decided to resurrect this giant corporation through a Public Private Partnership (PPP) amid a spate of hurdles. Accordingly, the investment agreement was signed recently, with the BOI making it a backward integration, to manufacture paper for the corrugated industry.

Commenting on the project, BOI Chairman Raja Edirisuriya said “It seems that the KSPA is taking the paper industry to a next level with its new project and it is commendable that the industry is in safe hand,”

“It has to be said that the KSPA is setting an example for the entire business community where they manifest the actual role to be played by the private companies, at a juncture where the country is standing at a crossroads. Thus, the BOI would like to wish all the very best for the project and their future endeavours, while assuring that the BOI is always willing to give a hand to such ventures,” Edirisuriya added.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Bank of Ceylon reinforces banking partnerships with India

Published

on

The Bank of Ceylon (BOC) recently concluded a highly impactful and strategically significant visit to India, reaffirming its commitment to strengthening international banking relationships, enhancing regulatory engagement, and unlocking new avenues for growth across the region.

The delegation was under the patronage of Chairman Mr. Kavinda de Zoysa ,General Manager/CEO Y. A. Jayathilaka, Deputy General Manager (International, Treasury & Investments) G. A. Jayashantha and Chief Manager of Overseas Branches Division . Harischandra Hewage, reflecting the Bank’s strong leadership focus on expanding its global presence and reinforcing international operations.

Strengthening its regulatory relationships, the BOC delegation met with senior officials of the Reserve Bank of India, including the Chief General Manager – Foreign Banks in Mumbai and the Regional Director for Tamil Nadu & Puducherry in Chennai. The officials expressed their satisfaction with BOC’s performance, highlighting its strong governance standards and its growing contribution to the regional banking landscape, while extending their continued support for the bank’s future expansion initiatives.

Continue Reading

Business

Postponement of Sri Lanka Investment Forum 2026

Published

on

The Board of Investment (BOI) of Sri Lanka wishes to inform registered participants and all stakeholders that the Sri Lanka Investment forum 2026, scheduled for 30 March 2026, in collaboration with its partners—the European Union (EU), the Asian Development Bank (ADB), and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has been postponed.

We have made the strategic decision to reschedule the event, due to ongoing global developments and its impact on international travel and logistics. We believe that rescheduling the event will allow for more focused and productive deliberations under more favorable global conditions. Our priority is to provide a high-impact platform that fosters meaningful engagement between Sri Lanka’ stakeholders and international investors.

New date: we are closely monitoring global developments and will keep all registered participants and stakeholders informed of revised date.

Registration: All existing registrations will remain valid for the new date.

The BOI remains dedicated to showcasing Sri Lanka as a premier destination for sustainable and technology-driven investment. We thank you for your patience and continued support as we work toward hosting a successful Forum. (BOI)

Continue Reading

Business

Table by Nyne – The Beach: An elegant stop for sundowners and coastal dining in Bentota

Published

on

Positioned between the iconic Galle Road and the golden shoreline of Bentota, Table by Nyne – The Beach pairs panoramic Indian Ocean views with a thoughtfully curated menu that celebrates creativity, flavour, and freshness.

Located at Anuprit, one of a trifecta of properties that form Nyne Hotels’ premium collection — Nyne LUXE — the restaurant is ideally placed for spontaneous coastal stopovers.

“Most Nyne dining experiences are reserved for in-house guests, but Table by Nyne – The Beach warmly welcomes walk-in visitors,” explains General Manager Rizwan Hareez. “Travellers exploring the coast, beach enthusiasts, and anyone seeking an elevated yet relaxed dining experience can drop in to enjoy fresh seafood, grilled specialities, vibrant seasonal salads, and a carefully crafted selection of plant-forward dishes.”

The restaurant has earned particular praise for its vegan offerings — inventive, flavour-driven dishes that go far beyond token options. From robust vegetable mains to creative small plates and nourishing bowls, the kitchen ensures vegan diners enjoy the same depth, balance, and artistry as any other guest.

Credit for this philosophy lies with Executive Chef Shantha Peiris, who, together with Nyne founder Nayantara ‘Taru’ Fonseka, designed the restaurant’s distinctive menu.

“All our vegan items are made in-house, from cheeses to honey alternatives. We are also deeply committed to working with local farmers, ensuring we always have access to the freshest ingredients while showcasing the fruits and vegetables that define the region,” says Chef Shantha.

For Nayantara Fonseka, the concept is about more than simply dining. “Table by Nyne – The Beach was envisioned as a place where people can pause along the southern coast — perhaps for sundowners overlooking the Indian Ocean, a quiet walk along the beach as the light softens, and then an unhurried dinner that celebrates fresh, thoughtful cooking. It’s about creating moments that feel both relaxed and memorable.”

A distinctive beverage programme complements the cuisine, with signature cocktails, artisanal mocktails, and a carefully considered wine list designed to enhance the beachfront dining experience.

Continue Reading

Trending