Dena Group to launch tyre recycling plant

by Mohammed NAALIR

Dena Nano Technology Lanka) (Pvt) Limited signed an MoU with the Dena Group, United Kingdom and Dena Group, India at the Galadari Hotel last week.Dena Group, UK holds 10 percent shares while Dena Group India holds 20 percent. Dena Nano Technology Pvt Limited is the main share holder with 70 percent of the shares."The Dena group is one of the leading manufacturers of tyre recycling systems. They use a new system which produces a wood replacement product (wood like product) from used automobile tyres. Having been in this business for 22 years, they design and develop systems according to the end-users specifications and needs", a spokesman for the Company said.

Managing Director, Dr. K. Ketheeswaran said that the proposed plant will be at the Lanka Industrial Estates Ltd (LINDEL) site at Sapugaskanda. $ 5 m will be invested under the first phase and an equal amount will be invested under the second phase. Dena Technology UK will provide the technology and buy the finished products for their clients in Europe and the Middle East.

He said that this is a 100 percent export-oriented BOI project. The second phase of this project will be implemented next year.