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| Sunday, 7 November 2004 |
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Edible oil refinery by Wilmar Holdings Wilmar Holdings of Singapore has invested US$ 10.0 million to construct an edible oil Refinery in Muturajawela industrial park, Wattala. This is a 100% export oriented company under the BOI flagship. Chairman of the company Khoon Hong Kuko visited Sri Lanka recently and met the Minister of Industry Anura Bandaranaike and Minister of Agriculture Anura Disanayake. Wilmar Holdings is one of the leading companies engaged in processing, merchandising and distributing of palm oil and palm related oil and other seed related products in Asia. During the discussions with ministers Kuok stated that Wilmar Holdings is planning to invest in two other projects in 2005. While appreciating the governments investment policy Kuok requested Minister Anura Bandaranaike to build up a close relationship with Asian investors who are capable and has the capacity to invest in Sri Lanka under the Indo-Sri Lanka Free Trade Agreement. The company has identified market potential for the edible oil products in India, Pakistan and China due to large population in these region. Company also says that the per capita consumption of edible oil in the region remains extremely low in comparison with developed countries. Wilmar Holdings has identified Sri Lanka as a manufacturing hub of edible oil products due to its location and investor friendly policies. |
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