LTL’s Indian subsidiary wins Best Exporter Award

M/s Asiatic Electrical and Switchgear Ltd. of India, a fully owned subsidiary of Sri Lanka’s largest power company, LTL Holdings Ltd., last week achieved a major recognition as an exporter when Engineering Export Promotion Council of India (EEPC) crowned Asiatic as the best Electrical and Electronics exporter for the year 2017-18. 

This award is highly significant for Asiatic since awards are primarily to encourage foreign investments in line with the newly initiated “Make in India” campaign by the Government of India. EEPC is the premier trade and investment promotion organisation in India. It is sponsored by the Ministry of Commerce and Industry, Government of India and caters to the Indian engineering sector. As an advisory body, it actively contributes to the policies of Government of India and acts as an interface between the engineering industry and the Government.

Asiatic is one of India’s largest manufacturers. It makes a wide range of electrical accessories required by power utilities. Asiatic has a large production facility in Rajasthan and a corporate head office in New Delhi. Asiatic has been a medium voltage switchgear supplier since early seventies. Today its major markets are in Middle East and Africa. It is a consistent and reliable equipment supplier for many power utilities in UAE, Qatar, Kuwait, Kenya, Ethiopia and Oman. 

LTL Holdings Ltd. was set up more than 35 years ago to produce within Sri Lanka all the transformers required for our national grid. It is majority owned by Ceylon Electricity Board. LTL employs more than 300 Sri Lankan engineers in Sri Lanka and in various locations around the world. Over the years through multiple strategies of product and geographical diversifications in to related fields such as power generation (thermal, hydro and wind), transmission line and power plant construction and steel fabrication etc, LTL has turned itself to a unique Public Private Partnership. LTL has declared dividends totalling to more than Rs. 13 billion to CEB against a mere Rs. 96 million invested by CEB. Its business is increasingly on a global footing. Currently LTL Group is constructing more than 500MW of power plants outside Sri Lanka.

Asiatic Managing Director Arun Malla was particularly pleased on this recognition of its efforts to boost exports. He said Asiatic is supplying electrical distribution infrastructure to Qatar in a large scale as part of its preparations to FIFA-2022 which the company is very proud of. LTL Holdings CEO U.D. Jayawardana commenting on the EEPC award said, “Acquisition of Asiatic filled a long existed gap in our product range. Today we are able to offer a complete power distribution solution to power utilities combining transformers produced in Sri Lanka and Switchgear produced in India. Recognition of Asiatic as the top exporter in Electrical and Electronic Segment by EEPC, India well justifies our decision to acquire this company in 2016.”