Signing the agreement relevant to reopening Embilipitiya Paper Mill

We must accept local and foreign investors identifying the inherent threats and weaknesses of the country – S.B. Dissanayake, Minister of Industries

Embilipitiya Paper Mill will be revived at an initial cost of Rs. 3.5 billion.

Mr. S.B. Dissanayake, Minister of Industries while participating in the agreement-signing ceremony to reopen the Embilipitiya Paper Mill on 09/03/2022 expressed that the local and foreign investors should be properly identified and encouraged in order to recover from the difficulty where Sri Lanka has now fallen. Under the agreement, Korean Spa Packaging (Pvt) Ltd will make an initial investment of Rs 3.5 billion and it is expected to start production within a year and produce 75,000 metric tons of paper per year. The agreement was signed between National Paper Company Limited and Korean Spa Packaging Pvt Ltd. today at the Ministry of Industries in Colombo.

Retd General Daya Ratnayake, Secretary to the Ministry, Wimal Rubasinghe, Chairman, Paper Company Ltd., Anurath Abeyratne, Chairman, Korean Spa Packaging (Pvt) Ltd, and Ministry officials were also present at the occasion.