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By Jithendra Antonio
Sri Lanka’s leading paint, chemical manufacturer and agribusiness conglomerate CIC Holdings is to strengthen relationship with the world’s largest water treatment company, Nalco to supply chemicals to companies that will engage in oil prospecting and drilling.
“Nalco also has a petroleum division involved with the oil drilling industry. CIC has tied up with this division to supply chemicals to those companies that are to commence oil prospecting and drilling in the Mannar Basin soon,” the latest annual report of the company outlined.
It further noted that Nalco is the largest water treatment company in the world and deals with a wide range of water-based solutions for industrial, municipal and domestic sectors and that CIC has been partnering with Nalco for many years to bring the state-of-the-art water solutions to the Sri Lankan market.
Accordingly, given the increasing importance of water as a resource, CIC has strengthened its relationship with Nalco and proposes to enhance operations in the water solutions area.
“We hope to bid for turnkey projects where we would provide a complete solution to the government and private sector with regard to water purification,” CIC said adding that it is currently negotiating with a leading civil contractor who will handle the construction aspects of such purification solutions.
“We are also conscious of the need to be less weather-dependent and consequently strive to manage water” Chairman of CIC, B.R.L. Fernando said adding that the company has ongoing research programmes on water management, soil management, delivery systems to improve fertilizer utilization and also organic inputs.
While CIC has laid the foundation for the development of a strong agribusiness industry in the country which has both acceptance and potential, B.R.L. Fernando in his review stresses that it had signed an agreement to form a joint venture company in Bangladesh named 'Rahimafrooz CIC Agri' to replicate its agricultural model in the country.
According to him CIC’s agribusiness model also focuses on post harvest loss reduction, transport, cold rooms and packaging. In this regard, Fernando notes that as highlighted earlier CIC had spent over Rs.33 million on direct research and development during the year .
CIC is also looking forward to introduce a range of new products such as blended food additives, construction chemicals, specialty adhesives and specialty additives for the rubber industry.
Go to Link: http://print.dailymirror.lk/business/127-local/46052.html
Sri Lanka’s leading paint, chemical manufacturer and agribusiness conglomerate CIC Holdings is to strengthen relationship with the world’s largest water treatment company, Nalco to supply chemicals to companies that will engage in oil prospecting and drilling.
“Nalco also has a petroleum division involved with the oil drilling industry. CIC has tied up with this division to supply chemicals to those companies that are to commence oil prospecting and drilling in the Mannar Basin soon,” the latest annual report of the company outlined.
It further noted that Nalco is the largest water treatment company in the world and deals with a wide range of water-based solutions for industrial, municipal and domestic sectors and that CIC has been partnering with Nalco for many years to bring the state-of-the-art water solutions to the Sri Lankan market.
Accordingly, given the increasing importance of water as a resource, CIC has strengthened its relationship with Nalco and proposes to enhance operations in the water solutions area.
“We hope to bid for turnkey projects where we would provide a complete solution to the government and private sector with regard to water purification,” CIC said adding that it is currently negotiating with a leading civil contractor who will handle the construction aspects of such purification solutions.
“We are also conscious of the need to be less weather-dependent and consequently strive to manage water” Chairman of CIC, B.R.L. Fernando said adding that the company has ongoing research programmes on water management, soil management, delivery systems to improve fertilizer utilization and also organic inputs.
While CIC has laid the foundation for the development of a strong agribusiness industry in the country which has both acceptance and potential, B.R.L. Fernando in his review stresses that it had signed an agreement to form a joint venture company in Bangladesh named 'Rahimafrooz CIC Agri' to replicate its agricultural model in the country.
According to him CIC’s agribusiness model also focuses on post harvest loss reduction, transport, cold rooms and packaging. In this regard, Fernando notes that as highlighted earlier CIC had spent over Rs.33 million on direct research and development during the year .
CIC is also looking forward to introduce a range of new products such as blended food additives, construction chemicals, specialty adhesives and specialty additives for the rubber industry.
Go to Link: http://print.dailymirror.lk/business/127-local/46052.html
