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    IDB introduces chemical industry development pilot project

    March 29, 2019

    The Industrial Development Board (IDB), has introduced a “Small Scale Chemical Industry Development Pilot Project” for the Western Province with a view to improving the overall performance of the chemical industry by offering a very supportive financial grant for quality and productivity improvements in the industry.

    The IDB’s Technical Service Department (TSD) in the year 2017, submitted a proposal in this regard and took steps to carry out the project in the year 2018, first by calling for applications of prospective industrialists who were keen in this sector via newspaper advertisements.

    The TSD informed the prospective candidates applying for this project that the industry they apply for, should not have been registered in any other government institution to obtain similar assistance at the time of applying for the scheme. They were also advised that they could submit their proposals under this project with the following included: Acquisition of Machinery and Technology, Packaging improvements (machinery/labeling ), Solutions to environmental problems such as waste management, energy conservation, etc. and measures to comply with local and international industry standards.

    Applications received were evaluated by a selection committee appointed by the IDB Chairman and, while field visits were done to ascertain eligibility. Selected industrialists were informed that they need to invest a minimum sum of Rs. 600,000 for the improvement of their products and processes. The IDB would reimburse 50% of the total project costs up to a maximum of Rs. 300,000 (excluding consultancy and factory infrastructure modifications) upon the successful completion of the project.

    The IDB took steps to provide financial grants as informed prior to the time of selection, hoping that the industrialists so selected, would utilize the grant to increase the production capacity and efficiency and also to improve the quality and productivity of the industry, including environmental improvement initiatives.

    The selected industrialists signed the agreement with the IDB and Eight (8) industrialists, successfully completed their proposed projects in year 2018. They are Silver Star Industries, Nestchem Lanka (Pvt) Ltd., Dhanushka Painst and Chemical Industries(Pvt) Ltd., Grestone Chemical (Pvt) Ltd., Bionutri International (Pvt) Ltd., Latex Lanka International (Pvt) Ltd., RYC Color (Pvt ) Ltd., and Unique Multi Artistes. They received their financial grant from the IDB at a function held at the JAIC Hilton in Colombo, to unveil the LOGO of the IDB, in view of the IDB celebrating its 50th Anniversary to be commemorated this year. Awarding of financial assistance to selected Industrialists took place at the ceremony.

    Industry and Commerce, Resettlement of Protracted Displaced Persons and Co-operative Development Deputy Minister Buddhika Pathirana was the Chief Guest at the ceremony.In his address at the launch of the IDB Logo and granting financial assistance to the selected industrialists of the Western Province, Deputy Minister Pathirana invited the industrialist to venture into new fields, as one industry alone was insufficient to run a successful business today.

    Deputy Minister Pathirana drew attention of the industrialists at the ceremony and encouraged them to initiate their environment friendly industries at Paranthan, while the Government was ready to provide all the assistance necessary.

    “Get away from tunnel thinking and move over spread thinking and be active partners without idling as on looking outsiders,” he said .

    If industrialists show interest and venture into with needed funds as investments to commence new industries coupled with novel ideas, they could generate more job opportunities for graduates and for those after advanced level studies, who have followed the science stream. There is a great demand for those who had studied chemistry in particular. Paranthan is an ideal place to commence industries and if they could manufacture goods to meet the demands of the international market, they would be helping the country earn more foreign exchange, the Minister said.

    IDB Director General P.L.U. Rathnamalala, informed those present that the IDB was getting ready to celebrate its Golden Jubilee this year and invitations extended to prospective industrialists and youth with novel ideas to enter the industry, was fitting and a good omen.

    He paid a tribute to the late Minister Philip Gunawardene for his role in setting up the IDB, as Member of the National Government Cabinet, during the tenure of the then Prime Minister Dudley Senanayake.

    Speaking further, D. G. Rathnamalala said the IDB was on its way to extend more of our services to uplift the lives of Small and Medium Industries in the country. This would undoubtedly be a very remarkable and fitting manner to commemorate the IDB Golden Jubilee, this year.

    The Logo of the 50th Anniversary launched, was a creation of the IDB workers and staff, along with the blessings and approval of the Board of Directors.

    Deputy Director Deepa Gamage made the presentation on the Small Scale Chemical Industry Development Pilot Project of the Western Province at the ceremony.

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