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BOI signs up with Associated Advanced Rubbers to manufacture and export advanced rubber material
The Board of Investment (BOI) of Sri Lanka entered into an agreement with Associated Advanced Rubbers (Pvt) Ltd, to set up a project to manufacture advanced rubber material for direct and indirect export. The agreement was signed by Raja Edirisuriya, Chairman of the Board of Investment of Sri Lanka and Shazni Kamardeen, Chairman and Muhammmed Arshad Iqbal, Managing Director of Associated Advanced Rubbers (Pvt) Ltd.
The project will commence with an initial investment of USD 5.85 million and will establish its manufacturing facility in Gatahetta, Avissawella an area that is concentrated with plantation crops of natural rubber occupying a total population of nearly 5000.The facility is intended to be equipped with 100KW of solar power, state-of-the-art research & development laboratory, and high-end technology that is capable of innovating advanced sustainable rubber materials. The range of product portfolio that AAR includes Epoxyprene Rubber, Low Protein rubber, Liquid rubber, Grafted rubber, Granulated rubber, partially vulcanized rubber, Thermoplastic rubber, and technically specified rubber.
AAR was established in 1950 and immensely contributing to enrich people’s lives through innovative solutions by devoting wholehearted energies and high-end technology that adds value to the precious crude rubber.
Raja Edirisuriya, Chairman BOI Sri Lanka said “We congratulate the company’s leadership for diversifying in to new products into export markets including Europe, Asia, South Africa and USA while making a significant contribution to the country’s economy. We are confident that this new establishment will provide gainful opportunities to the country as well as the improvement of rural infrastructure and livelihoods.”