Deal signed for world’s largest single location PET plant at Hambantota

Hambana Petrochemicals Ltd., (HPL) last week signed a Business Venture Agreement with the SLPA for the proposed project to set up a plant for producing bottle grade polyethylene terepthalate packaging resin. It would also be integrated subsequently with a PTA plant, which would be set up in the second phase with a capital outlay of US$ 450 million. The total tonnage for the port through this industry in phase I and II is close to four million tons. The project will be on-stream from January 2015.

The signing was between SLPA Chairman Dr. Priyath B. Wickrama, Hamabana Petrochemical Limited Director/CEO Abhijit Sen and Hamabana Petrochemical Limited Chairman Jit Warnakulasuriya in the presence of Minister of Port and Highways (Projects) Rohitha Abegunawardhane. Ministry of Ports and Highways Additional Secretary (Ports) Anuradha Wijekoon, Ministry of Defence and Urban Development Additional Secretary Janaka Kurukulasuriya, SLPA Vice Chairman Indika Karunajeewa, SLPA Executive Director Dr. Sanjaya Sedara Senarath, SLPA Additional Managing Director Norman Weerarathne, SLPA Director (Finance) Shirani Wanniarachchi, SLPA Director (Technical) A.D.T. Gunasekara, SLPA Director (Logistics) D.W. Atapattu, SLPA Director (Security) Major General Sanath Karunaratne and  Chief Engineer (Southern Port Development) P.A. Agil Hewageegana are also present.