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Sunday, 20 November 2011

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Australian company to manage Embilipitiya paper mill

Perth Engineering and Maintenance, an Australian company, has been appointed to manage the Embilipitiya paper factory under the Government's program of restructuring and rehabilitating unprofitable State ventures, said State Resources and Enterprise Development Ministry Secretary, Dr. Willy Gamage.

The Secretary said Government will not privatise State assets. The Embilipitiya paper mill is a State - owned venture. The Australian company will abide by the conditions laid down by the Government, the Secretary said.

The Australian company is tasked with making the paper mill a profitable venture.

The company, selected through international bidding, has paid Rs. 800 million to the Government for the management and operational rights of the paper mill, he said.

The Secretary said the mill remained closed since 2003. Despite the paper mill remaining non-operational, the Government had spent around Rs. 4.3 million annually to pay employees' salaries.

 

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