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INSEE Ecocycle: Realizing a circular economy through innovative waste management

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Sujith Gunawardane

As Sri Lanka marks World Environment Day, INSEE Ecocycle takes center stage as the pioneering force in waste management, driven by the principles of the circular economy. With a profound commitment to sustainability and respect for the UN’s Sustainable Development Goals, INSEE Ecocycle has emerged as a game-changer in waste disposal, waste recovery, and overall waste management solutions.

Embracing the circular economy model, INSEE Ecocycle goes beyond waste disposal and management solutions through its dedication to transforming waste into valuable resources. As the waste management arm of INSEE Cement, the company’s journey began in 2003 when it began using biomass and industrial waste as alternative fuels and raw materials for the cement manufacturing process. Since then, INSEE Ecocycle has expanded its scope, venturing into hazardous waste management, sorted non-biodegradable municipal solid waste processing, and molecular recycling through its pyrolysis plant.

“At INSEE Ecocycle, we are driven by the belief that waste should be viewed as an opportunity rather than a burden,” says Sujith Gunawardhana, General Manager, INSEE Ecocycle. “Our goal is to revolutionize waste management and create a sustainable future where waste becomes a valuable resource that can be used to create the things we need to build a better life!”

Both historically and at present, INSEE Ecocycle plays a pivotal role in developing environmentally friendly avenues for managing hazardous waste in Sri Lanka. In collaboration with the government, regulatory authorities, and industries, the company facilitates the safe and eco-friendly management of countless tons of hazardous waste annually, continually setting new standards for responsible waste disposal practices in Sri Lanka.

Underscoring INSEE Ecocycle’s commitment to innovation, the company has invested in a state-of-the-art modern laboratory, providing analytical services to various industries in relation to waste management. This cutting-edge facility enables comprehensive waste analysis, including solid, liquid, wastewater, fuel, and fertilizer analysis. Through the provision of these services, INSEE Ecocycle has solidified its position as a comprehensive, one-stop shop for total waste management solutions and a drive towards more circular solutions.

The specialty of INSEE Ecocycle’s approach lies in its unique co-processing method, carried out within the cement kilns. By complementing the cement manufacturing process in partnership with its parent company, INSEE Cement, waste is destroyed and decomposed fully without harmful emissions. In stark contrast to conventional landfill or incineration methods, co-processing ensures waste is converted into valuable resources, minimizing environmental impact. Additionally, the company’s commitment to transparency and accountability is demonstrated through continuous monitoring of emissions and regular reporting to regulators.

Driven by its ESG ambitions for 2030, INSEE Ecocycle focuses on three key pillars: climate and energy, the circular economy, and biodiversity and water. Concentrating on these pillars, the company strives to reduce CO2 emissions, decrease energy consumption from fossil fuels, enhance waste utilization, and promote water conservation, while also making a net positive impact on biodiversity. These initiatives, coupled with a “zero-harm” ambition and robust community engagement, solidify INSEE Ecocycle’s dedication to environmental stewardship.

Further highlighting the company’s commitment to transforming waste disposal in Sri Lanka, INSEE Ecocycle presently collaborates with over 100 municipal councils and local authorities islandwide, supporting the responsible collection and disposal of sorted non-biodegradable municipal solid waste (MSW). The company plays a pivotal role in providing technical expertise, infrastructure, and final disposal facilities to efficiently manage waste. Recognizing that municipal solid waste (MSW) is a national concern, INSEE Ecocycle actively collaborates with government authorities at all levels to find sustainable solutions.

INSEE Ecocycle also partners with organizations that generate waste to help them take ownership and responsibility for managing their waste in an environmentally friendly and professional manner. Through its industrial services arm, INSEE Ecocycle offers a range of services, including waste mapping, waste reduction guidance, technical solutions, chemical cleaning, tank cleaning, emergency responses, and professional logistics services. By sharing its wealth of experience and knowledge, INSEE Ecocycle empowers its clients to embrace sustainable waste management practices and minimize their environmental footprints.

“Our vision goes beyond waste management as we aim to build a greener, more sustainable future for our country,” explained Mr. Gunawardhana. “Through our unmatched expertise, extensive geographical presence, and participation in nationally important projects, we are driving change and reducing the burden of MSW and other hazardous waste.”

Emphasizing the significance of individual actions in waste management, Mr. Gunawardhana added, “Every small effort counts in reducing waste and managing it properly. Simple practices like reusing bags and avoiding the mixing of different types of waste can help #BeatPlasticPollution and have a significant impact on the effectiveness of waste treatment and disposal measures. Awareness is crucial, and that’s why we always try to share knowledge and inspire people at every level to do and be better, even when it isn’t in our economic interests, in order to drive a sustainable waste management culture in Sri Lanka.”

With World Environment Day being marked worldwide on June 5, 2023, INSEE Ecocycle stands at the forefront of the battle against environmental pollution in Sri Lanka, blazing the trail with its innovative waste management solutions, driven by circular economy principles. By redefining waste as a valuable resource and fostering partnerships with diverse stakeholders, INSEE Ecocycle is working to realize a greener future for all Sri Lankans.



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CEB calls for proposals to develop two 50MW wind farm facilities in Mullikulam

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The Ceylon Electricity Board (CEB) has announced an international call for proposals to develop two 50 MW wind farm facilities in Mullikulam on a Build, Own & Operate (BOO) basis. The initiative aims to bolster Sri Lanka’s renewable energy capacity, aligning with the government’s strategy to increase the share of clean energy in the national grid.

The bidding process, launched on behalf of the Cabinet Appointed Negotiating Committee, invites local and international project proponents to finance, design construct and maintain the wind farms under a 20-year agreement. The deadline for proposal submissions is June 12, 2025.

A senior electrical engineer at the CEB, speaking on the significance of the project, told The Island Financial Review: “This initiative is a crucial step towards achieving Sri Lanka’s renewable energy goals. Wind power is a key component of our strategy to reduce reliance on fossil fuels and enhance energy security.”

According to the CEB, interested parties can obtain the Request for Proposal (RFP) document by paying a non-refundable fee of Rs. 300,000 (or USD 1,035 for foreign applicants). The RFP provides comprehensive details on project requirements and evaluation criteria.

“Given the global shift towards clean energy, we expect strong interest from both local and international developers. This project not only supports our sustainability targets but also creates investment opportunities in Sri Lanka’s energy sector, the engineer added.

The wind farm project is part of a broader initiative to achieve 70% renewable energy generation by 2030, a key target set by the Ministry of Energy. Experts believe that projects like these will play a vital role in stabilizing electricity supply and reducing carbon emissions.

by Ifham Nizam

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The people crown Lolc for ninth consecutive year

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The Marketing Communication Team of LOLC Holdings, led by Susaan Bandara, Group Chief Officer- Marketing Communications, receiving the award.

LOLC once again emerges as the “People’s Financial Services Brand of the Year”, securing the prestigious title bestowed at the SLIM Kantar People’s Choice Awards 2025 for an unparalleled ninth consecutive year. This recognition, conferred through a comprehensive consumer research, reflects the brand’s firm connection with the Sri Lankan people and its consistent leadership in financial services.

Unlike many industry awards, the SLIM Kantar People’s Choice Awards is determined by independent consumer research conducted by Kantar, a global leader in brand insights. Instead of relying on a judging panel, this recognition is purely based on public perception, brand recall, and customer loyalty, making it one of the most authentic measures of a brand’s standing. Securing this title for ninth consecutive years highlights LOLC’s deep-rooted connection with its customers and its ability to evolve with their changing needs while maintaining a firm commitment to excellence.

Kapila Jayawardena-
Group Managing
Director/CEO of LOLC
Holdings PLC

LOLC’s continued success is driven by its assurance to financial empowerment, innovation, and inclusiveness. It has redefined accessibility to financial services by reaching underserved communities and pioneering digital transformation. Beyond its core financial solutions, LOLC is a brand that stands with the people, for the people, embodying resilience and hope through the years. In times of crisis, be it economic hardships or global disruptions, LOLC has remained a pillar of strength, stepping in when the nation needed it most. This deep-rooted connection with the people is what truly sets LOLC apart. The company has also been recognized for initiatives that create real social impact, such as the Divi Saviya Humanitarian Project, which uplifts vulnerable communities through sustainable support.

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Orient Finance reports robust financial growth for 9-month period ended December 31, 2024

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K.M.M Jabir Director/CEO of Orient Finance PLC (L) / Rajendra Theagarajah Chairman of Orient Finance PLC (R)

Orient Finance PLC has reported an outstanding financial performance for the nine-month period ended December 31, 2024, showcasing significant growth in key financial indicators compared to the corresponding period in 2023.

The Company recorded a remarkable 161% increase in profit after tax, reaching Rs. 254.6 million compared to Rs. 97.6 million in the same period of the previous year. Net interest income surged by 37%, amounting to Rs. 1.66 billion from Rs. 1.21 billion, demonstrating strong portfolio growth and enhanced operational efficiencies.

Total assets expanded by 28%, rising to Rs. 25.3 billion, while loans and receivables increased by 36% to Rs. 19.76 billion. The Company’s deposit base grew to Rs. 15.12 billion, marking a 19% increase, reflecting continued customer confidence. Meanwhile, total equity improved by 12%, standing at Rs. 3.86 billion.

Earnings per share (EPS) grew 163% to Rs. 1.21, up from Rs. 0.46, while net assets per share (NAPS) rose by 12% to Rs. 18.27.

For the month of December 2024, Orient Finance reported a Cost-to-Income Ratio of 68%, reflecting continued efforts towards cost management amidst challenging market conditions. The Gross Non-Performing Loan (NPL) Ratio stood at 9.62%, while the Provision Cover was maintained at a healthy 65.37%, demonstrating company’s prudent approach to credit risk management. As the quarter ended 31st December 2024, Orient Finance’s Tier 1 Capital Ratio stood at 13.14%, with the Total Capital Ratio recorded at 13.16%, both remaining comfortably above the minimum regulatory requirements.

Commenting on the results, Rajendra Theagarajah, Chairman of Orient Finance PLC, stated, “These exceptional results underscore our commitment to sustainable growth and operational excellence. Our focus on innovation and customer-centric financial solutions has strengthened our position in the market. As we continue to evolve, we remain dedicated to offering innovative financial products that meet the diverse needs of our customers while driving long-term shareholder value.”

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