Serendib Flour Mills to break Prima monopoly

Serendib Flour Mills (Pvt) Ltd., the second player entered the market last week breaking the Prima monopoly. The Chairman of Serendib, Mahendra Amarasuriya said that the company will supply 30% of the market demand initially and expand its market gradually.

Amarasuriya said that Serendib’s entry into the market would provide benefits to consumers. We have to go with global prices but our entry to the market would slash any supernormal profits of the present monopoly, Amarasuriya told the Sunday Observer. The competition would improve the quality of the products in the market and Serendib will supply the best quality products.

The new state-of-the art flour mill of Serendib was opened in the Colombo port last week. The opening of the mill was delayed for many years due to various obstacles. The company had to face Court cases and protests from various parties acting with ulterior motives, he said.

Serendib is a member of the Al Ghurair Group of Companies in Dubai UAE. The new factory was built with a US$56 million investment.

The mill is one of the most modern, largest and single line mill of the Al Ghurair group. The mill has a production capacity of 1,000 tons per day as well as the capacity to double production. GW

The CEO of Serendib, Sathak Abdul Kadar said that the company was committed to making a change in the wheat flour market in Sri Lanka. “As a reliable and serious corporate entity and an international giant which provides goods of international standard and consistent quality we will have a regular supply of this essential food product in Sri Lanka, he said.

The company sells its products under the Seven Star brand.