Haycarb signs deal with BOI for $ 18 m expansion

Tuesday, 2 June 2026 07:13 - - {{hitsCtrl.values.hits}}

Haycarb PLC has entered into an agreement with the Board of Investment of Sri Lanka (BOI) to undertake an expansion of its specialised manufacturing operations for Energy Storage Carbon, with an additional investment of $ 18.18 million.

Haycarb PLC in FY26 delivered a resilient performance recording pre-tax earnings of Rs. 5.52 billion and post-tax earnings of Rs. 4.27 billion, retaining its position as a leader in innovative coconut shell activated carbon solutions for a wide range of applications.

Its manufacturing facilities are strategically located in Sri Lanka, Thailand, and Indonesia.

Its latest venture, Haycarb Philippines Corporation, has received approval from the Board of Investments of the Philippines to establish an activated carbon manufacturing facility. The first phase is scheduled to be commissioned in the first half of 2027 and will further enhance manufacturing footprint and strengthen position in the coconut shell-based charcoal supply chain.

The company’s share price yesterday gained by 3%, or Rs. 4.50, to close at Rs. 148.