UltraTech Cement says deeply committed to Sri Lankan business

UltraTech Cement Sri Lanka, silver sponsor at the recent ‘ India Investrade 2014’ exhibition, says it is deeply committed to its successful business in Sri Lanka.

“We started our operation of import, storage, packing and distribution of world class cement in 2000 and have earned an extremely encouraging response from users and customers of Sri Lanka,” said Kiran Redkar, CEO of UltraTech Sri Lanka, speaking at the exhibition. He added that Sri Lanka consumes about 5 million tons of cement annually and with an installed capacity of 1.2 million tons of annual capacity, UltraTech Sri Lanka is well placed to cater to the growing cement demand of the country.

In a media statement that carried his comments, the Indian- headquartered company has been a part of the construction developments like the Colombo Port Expansion and the Colombo-Katunayake expressway project.

Sri Lanka is India’s largest trade partner in the SAARC region, while India is among the top five foreign investors in Sri Lanka. ‘ India Investrade 2014’ was held for the third time in Colombo and included business forums held to understand the various business possibilities for both the countries as well as discuss issues and concerns of the sectors. Officials from the National Chamber of Commerce in Sri Lanka, Board of Investment, Institute of Engineers, Sri Lanka and various government bodies took part in the forums.

UltraTech Cement is among the 10 largest cement producers in the world and has a global presence in 36 countries. “Based upon our own positive and encouraging experiences of engaging in a sustainable business for 14 long years, we are quite optimistic of renewed intense engagement between the two countries,” Mr. Redkar said