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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » India ready to invest in Sri Lanka's phosphate plant in Eppawela to increase capacity

India ready to invest in Sri Lanka's phosphate plant in Eppawela to increase capacity

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Aug 07, 2012 (LBT) - NPK Fertilizer Plant of India is prepared to open a fertilizer plant in Eppawela in Anuradhapura district of Sri Lanka, government sources said. President of the SAARC chamber of Commerce Vikramajith Singh Sahney, who is now in Sri Lanka, has said that Sri Lankan officials have shown a favorable response in this regard.

He said that they are looking at a joint venture and India is ready to invest around US$ 3 million to increase the capacity of the existing plant in Eppawela. Lanka Phosphate Limited presently produces Single Super Phosphate (SSP) and Triple Super Phosphate (TSP) at the Eppawela plant.

However the capacity of the plant is insufficient to meet the annual country demand of 75,000 metric tons of phosphate. The Indian company plans to increase the production and export the surplus.
http://www.lbt.lk/news/business/2396-indian-seek

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