Mahindra & Mahindra Ltd. (M&M), together with Ideal Motors, a fully owned subsidiary of the Ideal Group, recently unveiled the new Bolero City Pik-Up in Sri Lanka in the presence of Minister of Industries, Wimal Weerawansa. Wimal Weerawansa took a tour of the Mahindra Ideal Lanka Automotive Assembly Plant and saw the assembly process of the new Bolero City Pik-Up. The plant was inaugurated in August 2019 under a joint venture between M&M Ltd. and Ideal Group. M&M is the leader in the small commercial vehicle space and this new addition to its existing pickup portfolio further strengthens the company’s leadership position in Sri Lanka.
Addressing the occasion, Minister of Industries Wimal Weerawansa said,”Vehicle production is not an unachievable feat for Sri Lanka. We are steadily moving in the direction of becoming a nation that produces its own vehicles. The collaboration between Ideal Motors and Mahindra and Mahindra (M&M) India will put more local value additions into their vehicle production in Sri Lanka by next year. I believe that we will soon be able to see more ‘Made in Sri Lanka’ vehicles on our roads. As a government, we are committed to further facilitating resource supplies encouraging other global vehicle manufacturers to set up their vehicle production plants in the country. The Bolero City Pik-up unveiled today by Ideal Motors and M&M consists of more than 30% locally-sourced components, thereby enabling local vehicle component manufacturers to increase their revenue and expand their businesses. Further, the technology transfer from M&M to young Sri Lankan technicians in this project is an added boon to the country creating wider economic benefits to many stakeholders of the local vehicle assembly industry for its sustainable development,”
Addressing the gathering at the factory, Nalin Welgama, Chairman, Ideal Motors said “Ideal Motors and M&M have been working together for a decade to deliver value to our customers. We are working with local vendors to maximize local value add on the Bolero City Pik-up and deliver first ever ‘Made in Sri Lanka’ Pickup which is better suited to the market requirement. With our island wide network of Mahindra sales showrooms and authorized service dealerships, we are confident to lead this category”
New Bolero City Pik-Up is perfectly suited to various applications with its easy manoeuvrability, big cargo box and reliable, high-power engine. It boasts a strong suspension, with the rear suspension strengthened to take different type of load in city driving conditions. The cabin ergonomics have been further enhanced with a wider co-driver seat, giving the best driving experience during inter & intra-city business trips. All these make the New Bolero City Pik-Up an ideal pick up for urban goods transportation across the island. With a warranty of 12 months/ 50,000 km and minimal maintenance costs, customers are guaranteed to earn more profit and have complete peace of mind.
With the gradual opening of the market amid COVID19 pandemic in Sri Lanka, the demand for commercial vehicles is anticipated to see a significant spike in the future. Mahindra Ideal Lanka (MILPL) is now boosting its production capacity to meet the market demand for its pickups. This is the 2nd product launch in a row by Mahindra after the highly popular KUV100 was launched in July 2020.
ESOFT Metro Campus holds Graduation Ceremony 2021
The Annual Graduation Ceremony of ESOFT Metro Campus was held at the Bandaranaike International Memorial Hall (BMICH) on the 23rd and 24th of November 2021. A total of 1,800 students graduated at this year’s event. Successful students received their Pearson BTEC Higher National Diplomas, Pearson Level 7 Qualifications, London Metropolitan University (UK) Degrees and MBA’s, Kingston University (UK) Degrees and MSc’s.
It was held across two days and split into 9 sessions, to be in full compliance with health guidelines. In addition to the conferring of degrees, batch tops were awarded gold medals and special awards were made to the top achievers of the programmes.
Keynote addresses were by an eminent group of academics and industry leaders including Mr. Conard Dias CEO, LOLC Finance PLC, Mr. Thushera Kawdawatta – CEO, Axiata Digital Labs, Dr. Dayan Rajapakse – Chairman and Managing Director of the ESOFT Group, Dr. Sampath Wahala – Chairman, Sri Lanka Accreditation Board, Mr. Tishan Subasinghe – Managing Director and joint Managing Partner Moore Stephens Consulting (Pvt) Ltd and Moore Stephens Aiyar, Prof. A.A.C Abeysinghe – M.Phil. PhD Programme Coordinator, Senior Lecturer Faculty of Management & Finance, University of Colombo.
Foreign delegates from the University Partners were present virtually and delivered their speeches and wishes for the graduates via video. The Virtusa careers team were also present on both days in order to provide career opportunities to the young and successful graduates. ESOFT prides itself in producing graduates who are work-ready and able to take on the challenges and opportunities presented by the new economy.
ESOFT has a rich history of 21 years and is the largest private sector higher education network in Sri Lanka, and offers a variety of programmes through an extensive island-wide network of over 40 branches and serves over 40,000 learners each year in a range of programmes from school leaver courses to postgraduate programmes.
ESOFT partnered with Kingston University London in 2012 to offer undergraduate and postgraduate qualifications in engineering and soon established a dedicated College of Engineering in Katubedda. In 2013, they partnered with London Metropolitan University to offer a range of programmes leading to undergraduate and postgraduate awards in Computing, Business, Hospitality, and Travel & Tourism. A range of MSc programmes in IT and an International Doctoral programme for IT, Science and Engineering research areas, has also been introduced via Kingston University.
The ESOFT Group has won local and international awards from Pearson (UK), BCS (UK), NBQSA, National Chamber of Commerce, Federation of Chambers of Commerce of Sri Lanka in recognition of their academic excellence and business performance. Their pinnacle accomplishment was to be recognized by the Sri Lankan Government as a Non-state Degree Awarding Institution in 2019.
Coconut industry products raking in forex to the tune of $ 7000 yearly – State Minister
By Steve A. Morrell
Earnings from exporting coconut products amounted to $ 7000 annually. Such exports include jaggery and treacle, which are key products relating to the coconut industry, State Minister of Coconut, Kithul and Palmyrah Cultivation Promotion Arundika Fernando said.
Although coconut, as part of the plantation industry, was not given due recognition, it was now a distinct contributor to forex earnings and was of significant importance to the economy of the country, Fernando said.
The State Minister added: “Development of the coconut plantations includes value addition promotion to its various products, which are now key to sustaining the coconut plantations.
“Such development included propagation of 600,000 nursery plants for distribution among smallholders and large-scale plantations to add further progress to the industry. As a result, the coconut industry is part of the mainstream economy.
“The coconut industry made a substantial financial contribution to the economy of the country. Value addition in all products was key to development. Coconut products, used extensively in allied local industries, were contributors to value addition. This is efficiently handled by the private sector.
“Collaboration with the Jaffna University was on-going to develop kitul and palmyrah.
“Soil testing and further inputs were envisaged for development.
“Export markets would include Europe, Canada and the US. This is particularly true of kitul treacle and jaggery. Value of these exports would reach approximately $ 2 million.”
INSEE Cement’s 360-Degree Approach Eases Cement Shortage in Sri Lanka
Operating at maximum production capacity with optimized distribution channels for a number of weeks, INSEE Cement has successfully helped to mitigate the cement shortage that was prevailing in the local market. INSEE Cement’s concentrated and immediate contingency measures across its entire operation at the onset of the shortage ensured an uninterrupted market supply of cement, while also logging a record-high 700,000 MT production output during the third quarter of 2021 for the company.
“As Sri Lanka’s leading cement manufacturer, INSEE Cement took on the responsibility to ensure the local construction industry’s post-COVID-19 revival remained on its trajectory,” stated Gustavo Navarro, Chief Executive Officer at INSEE Cement Sri Lanka. “We continued to fully support government regulations and industrial policies to first stabilize the market, and were able to deploy our island-wide distribution and dealership network to ensure an uninterrupted supply across the island. The loyalty and patience of our customers gave us that extra encouragement we needed to overcome the challenge.”
INSEE Cement operates at a 3.6MT maximum capacity, with a 1.5MT production at the Galle plant, a 1.3MT output from the Puttalam facility and a 0.8MT import capacity at the Colombo Cement Terminal. To mitigate the shortage the company introduced two more additional import vessels to its logistics operation to accelerate production and distribution cycles.
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