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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lankan firms keen on setting up Joint Venture with Indian firms

Sri Lankan firms keen on setting up Joint Venture with Indian firms

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Aug 16, 2012 (LBT) - At least four top Sri Lankan companies have said they are ready to partner with Indian firms to set up manufacturing units in the upcoming Special Economic Zone in Trincomalee, which is to be set up by India. According to the Ministry of Industry and Commerce, those four firms are Samson PLC, Carson Cumberbatch, AMW and Ramya Holdings.

The Ministry in a statement issued said, the respective companies have expressed their interest during a recent forum held in Colombo. According to the Ministry, speaking during the occasion, Kulathunga Rajapksa, the Chairman of Samsons International has said “My firm is keen on a joint venture (JV) with Indian firms in the rubber sector.”

Mano Selvanathan, Group Director of Carson Cumberbatch, which is a diversified conglomerate speaking during the occasion has stated “We have not decided on any sectors for JV but we will definitely explore promising JVs with Indian firms in areas of our operations.” Carson Cumberbatch operates in sectors such as brewery, oil palm plantations, property development, investment portfolio management and mutual funds.

Associated Motorways, a firm engaged in marketing automobiles to is also willing to enter the proposed special economic zone. “We are very keen to enter the proposed Trinco’s MSEZ. With our automotive expertise, we can manufacture rubber based automotive components and become part of the supply chain to Indian car makers” added Tilak De Zoysa, President of the company.

Meanwhile, Ramya Holdings, an exporter of apparels and horticulture too is keen on partnering with the Indian firms to set up a joint venture. “For me, there is potential for JV in the hospitality trade and we are keen for a suitable partner” added Ramya Weerkoon, head of the company.
http://www.lbt.lk/news/business/2443-interests-revealed

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