Jayasiri Holdings, a partner in the ethanol production factory located at Pasikuda, says that they are ready to manufacture 30% of Sri Lanka’s ethanol demand saving USD 200 millions annually in three months since production commences.
Director Jayasiri Holdings, a diversified company and a spirit distributor in Sri Lanka for the past 45 years, Nadeeka Karunarathna says the factory was built nearly three years ago with an investment of Rs. 3 billion but was closed since the former government did not give a license to operate. “We are now making an appeal to the Minister of Finance, Basil Rajapaksa in this regard to obtain the license.”
She said that once the approval is granted they have an understanding with an Indian Spirit manufacturer to provide the technical knowhow to operate the factory. “The main raw material needed for production is locally sourced gram that is available in Sri Lanka and with the commencement of the factory, localfarmers will get a very high price and we hope to enter into buying agreements with them as well.”
She said less than 10% of ethanol is made in Sri Lanka while the others are imported to the country at a huge cost while there is also illicit smuggling. The collective average annual production of three local plants is around 24 million litres while the industry requires around 40 million litres per year. Karunarathna, the current managing partner of W.M. Mendis & Co. Ltd, will also create nearly 500 direct and indirect employment.
She said that in addition to local spirit manufacturers the cosmetic industry along with several other related industries too could save a huge amount by using locally made ethanol, “it’s also a substance for hand sanitisers.”
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