Chinese manufacturer to enter Sri Lankan market

A Chinese cement manufacturer will set up a plant in the Hambantota Export Processing Zone, Sri Lanka, according to Nalin Bandara, deputy minister of Development Strategies and International Trade. Although the name of the manufacturer has not been released, it is the first time that a Chinese manufacturer has entered the country's market.

"Since most of the regional markets have large cement manufacturers, this Chinese company would mainly concentrate on Sri Lankan markets," said Mr Bandara. Mr Bandara also noted that, despite having many manufacturers, almost 55 per cent of consumption is imported. Therefore, there are opportunities for the manufacturer to market cement locally.

Land allocation and environmental assessments for the project have been completed, with the plant expected to start production next May.