19 October 2018 09:54 pm
The famed Northern lands where Sri Lanka’s chemical giant Paranthan Chemicals Company (PCC) stood are now earmarked for a large industry block which will also pack Sri Lanka’s first heavy chemical industry zone.
“Northern factories of PCC that were discontinued in 1985 are to be revived. The site will also expand to include a heavy chemical industry zone,” said Industry and Commerce Minister Rishad Bathiudeen yesterday, speaking to the media after his inspection tour of the defunct Paranthan chemical factory site in Paranthan.
The Northern, former Paranthan factory site spreads across 227 acres and all factories were destroyed during the three decades of war. In many ways the Northern PCC factories spurred the development of Sri Lankan manufacturing and industries by producing and supplying domestically made, low cost chemicals that were promptly absorbed by the industries.
Minister Bathiudeen plans to develop the entire Paranthan site to become an industry zone involving general and chemical industries. 117 acres in Paranthan are allocated for chemical industries -67 acres for revived Paranthan chemical factories and 50 acres for a heavy chemical industry zone. The 50-acre chemical zone will border a 110-acre general industry zone.
The first stage targets low polluting chemical production and related industries, industries based on mineral resources with export market potential and processed industries that work on raw material from the area.
At present, through PCC, Sri Lanka imports its entire annual requirement of Liquid Chlorine. Ninety eight percent of this liquid chlorine is absorbed by the Water Supply and Drainage Board.
With the recommencement of PCC factories, domestic production of Sri Lanka’s total chlorine requirement would have an estimated foreign exchange savings of US $ 860,000 (around Rs. 147 million) annually. To meet Sri Lanka’s liquid chlorine requirements, the revived PCC factory will have to crunch 2500 metric tonnes of such chlorine annually.
“Revival of PCC factory will open many new employment opportunities to Northern youth. We invite both local and global investors for this venture,” Minister Bathiudeen said.
Paranthan Chemicals Corporation was established in 1954 as a State-owned chemicals factory at Paranthan, Kilinochchi district and subsequently was re-constituted as Paranthan Chemical Company.