BOI company in pioneering environment project

BOI-approved Viridis (Pvt) Ltd., is set to become the first company in Sri Lanka to process and export waste plastic materials, using locally available waste.

The Company is a joint venture between Viridis (Pvt) Ltd and of the UK and InXcess Corp. (Lanka) Pvt Ltd. This historic project represents an investment of Rs.76.43 million.

The objective of this unique project is to process waste plastic materials, namely PET (Polyethylene Terapathalate), PP (Polypropylene) & HDPE (High Density Polyethylene) into valuable recycled raw material for the South East Asian market.

The Company also intends to establish waste material collection centers regionally, enabling micro enterprises to be developed as waste material collection business enterprise.

In addition to this, the Company would assist the sustainable development programme of the country for significantly reducing the extent of dispersion of non-biodegradable as solid waste.

According to Company sources, this project will collect waste plastic material for processing. This plastic material is widely found in drinking water bottles, soft drink bottles and cooking oil bottles that are sold all over the island.

The Company intends to collect the material through a wide network of agents spread all over the island, including the North and the East. We are currently on the look out for agents from across the island. All those who are interested can contact us for further information, a company spokesman said.

Once the material is collected, it is sorted and crushed at the factory located in the Homagama Industrial Zone. The factory, which is set in a 2-acre land area and boasts of 2,500 square feet, is equipped with brand new machinery brought down from Thailand.

The factory will have a workforce of 50-60. This project is expected to create job opportunities in Sri Lanka as the Company plans to setup collection centers in almost every district in Sri Lanka, the spokesman added.

The processed material in granular form will be for 100% export purposes. The granules will be exported to China, Thailand, Taiwan and Malaysia where it is used for manufacturing of cushioning items such as shoulder pads for the apparel industry, bicycle seats and the automotive industry etc.