Sri Lanka’s plastics industry expected to grow by 15%-20%

Sri Lanka’s first ever international plastics exhibition – Sri Lanka Plast 2012, was inaugurated by Senior Minister for International Monetary Co-operation Dr. Sarath Amunugama in the presence of Indian High Commissioner Ashok K. Kantha and Special Guest Minister of Agriculture Mahinda Yapa Abeywardena. 

Organised by Enterprising Fairs India Pvt. Ltd, Sri Lanka Plast is co-organised by the Plastics and Rubber Institute of Sri Lanka (PRIL). It is supported by CIPET – Central institute of Plastics Engineering Technology, India, together with the Central Environment Authority of Sri Lanka.

Inaugurating the three-day international plastics exhibition, the Minister hoped that this International Plastics exhibition will not only facilitate the growth of plastics industries in Sri Lanka but also create a new breed of entrepreneurs and thereby create new employment opportunities.   He stressed that the producers of plastics must come forward and share responsibility with the Government and the civic administration to promote source segregation of plastics waste and encourage recycling of plastics.

Guest of Honour High Commissioner Kantha, mentioned that he was pleased to note that  more than 90% exhibitors are from India and he hoped that this exhibition will undoubtedly promote international exchange of experience and expertise in this sunrise sector which India has witnessed rapid strides in the recent years. He also hoped that Sri Lanka Plast will provide a platform for Indian companies to show case their strengths and capabilities. “This will not only boost the bilateral trade in this sector but also help in the development of the plastics industry in Sri Lanka,” he added.

The current consumption of plastics in Sri Lanka is around 175,000 metric tons per annum with nearly 800 plastics processors predominantly in the small and medium sectors. With Sri Lanka’s plastics industry expected to grow by 15%-20% in the near future, the only way to meet this demand is to create new manufacturing facilities and capacities.

Plastics and Rubber Institute of Sri Lanka (PRIL, the co-organisers of Sri Lanka Plast) President Kirthi Wanasinghe, welcomed the gathering and PRIL Vice President Anver Dole delivered the opening remarks. Dole added that there is a sizeable number of participants from Sri Lanka also and this exhibition has helped show case their capabilities to an international forum.

A highlight of ‘Sri Lanka Plast’ is the special theme pavilion on plastics recycling, set up by National Post Consumer Plastics Waste Management, for the benefit of the general public. The theme pavilion showcases new technologies for recycling of plastics. It will create awareness on how plastics can be recycled and the need to segregate plastic refuse at home. This section of the exhibition will be open to the general public and school children of Grades 10 and above, while the exhibition side is purely for business visitors.

Enterprising Fairs India Pvt. Ltd. (the organisers of Sri Lanka Plast) President and CEO B. Swaminathan Detailed on the benefits of the event. “There are 120 exhibitors from countries like India, Taiwan, China, Korea, Italy of which 90 of them are from India.”  He added that he was happy at such an overwhelming response for the maiden edition itself.  This only reflects the potential Sri Lanka holds for the growth of plastics industry in the years to come.

Parallel to the exhibition will also be a seminar on ‘Opportunities and Advancements in Plastics Processing’ which will focus on new technologies and advancements and the opportunities in this sector. To be held on Saturday 11 August, this seminar is being jointly organised by the Plastics and Rubber Institute of Sri Lanka and the Indian Plastics Institute, Chennai chapter.