Raigam Saltern in Trincomalee
To be the largest in country:
Sanjeevi JAYASURIYA
Raigam Wayamba Salterns PLC will construct the largest saltern in the
country on an extent of 1,850 acres in Trincomalee. The company engages
in massive development projects in Puttalam and Hambantota and during
2010 and 11 financial year it has invested Rs 130 million. The Wayamba
Salterns has already completed the acquisition process to construct the
Trincomalee saltern and is into halfway of construction activities.
“While concentrating on our core business, we will also venture into the
tourism sector,” Raigam Wayamba Salterns PLC Chairman and CEO
Ravindranath Liyanage told Daily News Business.
Ravindranath Liyanage |
Considering the tourism attraction in the area, the company will
implement an eco-tourism project to benefit 100 fishing families.
“We will take measures to improve the livelihood of 100 fishing
families and will start a fishing pier inside the saltern to retain
water during arid seasons to ensure fishing around the year,” he said.
The eco-tourism project will be part of the CSR project by the
company to serve the Eastern community while main emphasis is given to
the saltern related activities.
Phase one of the project is expected to be completed within one and a
half years.
“We are the 100 percent shareholder of Nilaweli Saltern and plans are
underway to amalgamate this venture into the Wayamba Salterns,” Liyanage
said.
The company recorded a turnover of Rs 297.4 million for the financial
year 2010 and 11 as against Rs 259.5 million recorded in the previous
year an increase of 37.8 million or 14.5 percent.
The company recorded Rs 57.8 million profit after tax after
absorption of a large amount of project related revenue expenditure in
contrast to Rs 51.2 million last year, an increase of 12.8 percent. The
Wayamba Salterns expects to open two salterns at Puttalam and Bata-atha
for commercial production in the latter part of 2011 and 12. The initial
harvest from these projects, though it is not at full capacity will make
a substantial contribution to reduce the cost of production of table
salt and be more competitive in the market.
The new salt refinery installed at the Bata-atha industrial zone will
be commissioned shortly. The distinct advantage of this project is the
benefit on transport cost connected with the catering to the demand in
the Southern Province where the total salt requirement is
self-generated. The vacuum evaporation salt plant is under construction
at Palavi, Puttalam.
The year 2011 and 12 will be a milestone year in the company’s
development drive as four major projects are to be completed shortly.
Sri Lanka imported 45,000 metric tonnes of salt in 2004 and it has
reduced to 10,000 metric tonnes at present where 90 percent of refined
table salt in the market is produced by the Raigam Group. |