Business
INSEE Cement, a major cement supplier to the Uma Oya project
INSEE Cement is Sri Lanka’s leading manufacturer of cement and is the company behind renowned cement brands such as Sanstha and Mahaweli cement. Presently, INSEE Cement is the suppliers of cement to the Uma Oya Multipurpose Development Project in the Uva Province. The project includes the commissioning of a new hydropower station and irrigation infrastructure for thousands of acres of farmland in the Hambantota and Monaragala Districts. The Uma Oya Multipurpose Development Project is an initiative by the Ministry of Irrigation and Water Management in coordination with the Ministry of Power and Energy, and the Ceylon Electricity Board. The projected has been contracted to FARAB Company, an Iranian contractor, and INSEE cement has already supplied the project with over 85,000 metric tons of its proprietary Rapid Flow and Sanstha (RCW) Cements.
Emphasizing the strategic importance of the project, Gustavo Navarro, Chief Executive Officer at INSEE Cement said, “The Uma Oya Multipurpose Development Project is an important project that will have positive nation-wide implications. It will create a renewable source of electricity, while also providing much needed irrigation to vast tracts of agricultural land. Together, this will help to further strengthen Sri Lanka’s food and energy security, which is particularly important in the post-pandemic environment. At INSEE, we believe in building for life. Thus, being the largest suppliers of cement to this project is a deep source of pride for us, and allows us to deploy our resources to support the development of our nation. We look forward to continuing to work in partnership with the project, until its completion, and take this opportunity to commend the government on its foresight with regard to this strategic national development initiative.”
The Uma Oya Multipurpose Development Project (UOMDP), also known as the Uma Oya Hydropower Complex, includes the construction of two dams across the Uma Oya and a tributary at Welimada, along with a trans-basin diversion tunnel and an underground hydro power plant with a 120MW capacity. Once completed, the project is expected to divert 145MCM of water to irrigate approximately 5000 hectares of land in the Hambantota and Monaragala Districts and to meet other downstream requirements. The expected annual energy production is 290 GWh and the power plant will be connected, via a 22.7km, 132kV transmission line, to the Badulla Grid Substation. The estimated cost of the project is 529 million USD and 85% of the total project cost is provided by the Government of Iran through the Export and Development Bank as a loan.
HNB Assurance PLC (HNBA) made a significant ascent in the latest LMD 100 rankings climbing 13 places to reach rank 64, cementing its position as one of Sri Lanka’s leading listed companies. Throughout the past few years, HNB Assurance has grown stronger, smarter and more united in its purpose, turning challenges into opportunities and refining every aspect of its operations.
The LMD 100 is a prestigious annual ranking that evaluates the financial and strategic performance of publicly listed companies in Sri Lanka. HNB Assurance has consistently climbed the ranks year after year in recent years, reflecting the company’s sustained growth. With 2025 underway, HNB Assurance is planning to leverage its strengths and growth momentum maintained over the past couple of years, as this year represents the penultimate step in its ambitious journey toward achieving the vision of “10% market share by 2026”, a transformative goal that aims to redefine, elevate and position the company as a trailblazer in the industry.
Sharing his thoughts on the company’s new ranking, Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, stated, “Our upward trajectory in the LMD 100 rankings reflects the collective efforts of our incredible team, the trust our customers have placed in us and our ability to adapt to the dynamic business landscape. At HNB Assurance, we remain committed to strengthening our core business, embracing innovation and delivering sustainable value to all our stakeholders.”
“As we step into 2025, it is inspiring to reflect on our journey so far. By the end of Q3 2024, we achieved growth that was well above the industry average, a remarkable feat we’ve consistently maintained since 2022. This success has been driven by the exceptional efforts of our sales force both from the Advisor Distribution and Partnerships channels, alongside the support of all our teams. I must also add that our vision for ‘10 in 2026’ is not merely a corporate milestone, it embodies our broader aspiration to transform lives, uplift communities and set new benchmarks in the industry. As the countdown to this goal continues, we will maintain our growth, while continuing to stive and create a lasting impact on the lives of our policyholders.” added, Wimalaratne.
Sri Lanka Insurance further expands its presence in the Upper Western region with the opens its Naiwala Agency Business Development Center (ABDC) on the 12th of December at No.90/6/C, Airport Road, Naiwala junction, Veyangoda.
The occasion was graced by SLIC Life Chief Business Officer Namalee A. Silva, Deputy General Manager – National Sales (Life) Jagath Welgama, Upper Western regional management, Branch Management of Veyangoda representing Life and General categories. Distinguished invitees and customers of the area were also in attendance at the event.
Agency Business Development Centers (ABDC) allows SLIC to further enhance its reach, which provides convenience and speed of service delivery to its loyal customers in relation with their protection needs.
CEAT Kelani Holdings has introduced a new high-performance tractor tyre, the 13.6 – 28 PUDDLE XL TT 12PR, just in time for the harvest phase of the Maha cultivation season. Designed specifically for agricultural use, this innovative cross-ply tyre promises to enhance farming efficiency and tractor operations.
Compatible with leading tractor brands such as Sonalika, TAFE, John Deere, and Mahindra, the tyre features advanced design elements tailored for puddling operations. Its higher non-skid depth (NSD) ensures superior traction in wet and muddy conditions, while wide and angular lugs improve stability and grip. The tyre’s deep and open shoulders allow for effective self-cleaning, and reinforced carcass construction extends its lifespan, offering excellent value for farmers.
This is the sixth tractor tyre variant developed and manufactured locally by CEAT Kelani Holdings, showcasing the company’s dedication to the agriculture sector.
CEAT Kelani Chief Operating Officer Shamal Gunawardene noted that the tyre addresses the unique challenges faced during the harvest period. “It ensures improved performance, durability, and reliability, empowering farmers and operators to achieve better productivity,” he said.
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