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Hi, Can we consider RWSL as a long term and medium term stock? Pl share your thoughts.
Raigam Wayamba Salterns PLC will construct the largest saltern in the country on an extent of 1,850 acres in Trincomalee. The company engages in massive development projects in Puttalam and Hambantota and during 2010 and 11 financial year it has invested Rs 130 million. The Wayamba Salterns has already completed the acquisition process to construct the Trincomalee saltern and is into halfway of construction activities. “While concentrating on our core business, we will also venture into the tourism sector,” Raigam Wayamba Salterns PLC Chairman and CEO Ravindranath Liyanage told Daily News Business.
Considering the tourism attraction in the area, the company will implement an eco-tourism project to benefit 100 fishing families.
“We will take measures to improve the livelihood of 100 fishing families and will start a fishing pier inside the saltern to retain water during arid seasons to ensure fishing around the year,” he said.
The eco-tourism project will be part of the CSR project by the company to serve the Eastern community while main emphasis is given to the saltern related activities.
Phase one of the project is expected to be completed within one and a half years.
“We are the 100 percent shareholder of Nilaweli Saltern and plans are underway to amalgamate this venture into the Wayamba Salterns,” Liyanage said.
The company recorded a turnover of Rs 297.4 million for the financial year 2010 and 11 as against Rs 259.5 million recorded in the previous year an increase of 37.8 million or 14.5 percent.
The company recorded Rs 57.8 million profit after tax after absorption of a large amount of project related revenue expenditure in contrast to Rs 51.2 million last year, an increase of 12.8 percent. The Wayamba Salterns expects to open two salterns at Puttalam and Bata-atha for commercial production in the latter part of 2011 and 12. The initial harvest from these projects, though it is not at full capacity will make a substantial contribution to reduce the cost of production of table salt and be more competitive in the market.
The new salt refinery installed at the Bata-atha industrial zone will be commissioned shortly. The distinct advantage of this project is the benefit on transport cost connected with the catering to the demand in the Southern Province where the total salt requirement is self-generated. The vacuum evaporation salt plant is under construction at Palavi, Puttalam.
The year 2011 and 12 will be a milestone year in the company’s development drive as four major projects are to be completed shortly.
Sri Lanka imported 45,000 metric tonnes of salt in 2004 and it has reduced to 10,000 metric tonnes at present where 90 percent of refined table salt in the market is produced by the Raigam Group.
source : http://www.dailynews.lk/2011/08/30/bus01.asp
Raigam Wayamba Salterns PLC will construct the largest saltern in the country on an extent of 1,850 acres in Trincomalee. The company engages in massive development projects in Puttalam and Hambantota and during 2010 and 11 financial year it has invested Rs 130 million. The Wayamba Salterns has already completed the acquisition process to construct the Trincomalee saltern and is into halfway of construction activities. “While concentrating on our core business, we will also venture into the tourism sector,” Raigam Wayamba Salterns PLC Chairman and CEO Ravindranath Liyanage told Daily News Business.
Considering the tourism attraction in the area, the company will implement an eco-tourism project to benefit 100 fishing families.
“We will take measures to improve the livelihood of 100 fishing families and will start a fishing pier inside the saltern to retain water during arid seasons to ensure fishing around the year,” he said.
The eco-tourism project will be part of the CSR project by the company to serve the Eastern community while main emphasis is given to the saltern related activities.
Phase one of the project is expected to be completed within one and a half years.
“We are the 100 percent shareholder of Nilaweli Saltern and plans are underway to amalgamate this venture into the Wayamba Salterns,” Liyanage said.
The company recorded a turnover of Rs 297.4 million for the financial year 2010 and 11 as against Rs 259.5 million recorded in the previous year an increase of 37.8 million or 14.5 percent.
The company recorded Rs 57.8 million profit after tax after absorption of a large amount of project related revenue expenditure in contrast to Rs 51.2 million last year, an increase of 12.8 percent. The Wayamba Salterns expects to open two salterns at Puttalam and Bata-atha for commercial production in the latter part of 2011 and 12. The initial harvest from these projects, though it is not at full capacity will make a substantial contribution to reduce the cost of production of table salt and be more competitive in the market.
The new salt refinery installed at the Bata-atha industrial zone will be commissioned shortly. The distinct advantage of this project is the benefit on transport cost connected with the catering to the demand in the Southern Province where the total salt requirement is self-generated. The vacuum evaporation salt plant is under construction at Palavi, Puttalam.
The year 2011 and 12 will be a milestone year in the company’s development drive as four major projects are to be completed shortly.
Sri Lanka imported 45,000 metric tonnes of salt in 2004 and it has reduced to 10,000 metric tonnes at present where 90 percent of refined table salt in the market is produced by the Raigam Group.
source : http://www.dailynews.lk/2011/08/30/bus01.asp
