Luminex moots JV with Puritas

Engineering construction specialist Luminex PLC Board has approved a proposal to enter into a joint venture agreement with Puritas Ltd., with a 40% equity participation to pursue new business.

A filing to the Colombo Stock Exchange (CSE) said the proposed JV is to submit an offer and in the event of it being accepted, the contract being awarded in respect of the Construction Projects of Mallavi Urban Water Supply Scheme in Mullaitivu District. “The Board of Directors are of the view that this Joint Venture Agreement is in the best interest of the company and will derive maximum benefits to the shareholders of the company in future,” the filing to the CSE added. A member of Hayleys Group, Puritas provides eco-friendly solutions for air purification and water purification in Sri Lanka through value-added activated carbon products.