IDB introduces Small-Scale Chemical Industry Development Pilot Project

IDB introduces Small-Scale Chemical Industry Development Pilot Project

The Industrial Development Board (IDB) has introduced a Small-Scale Chemical Industry Development Pilot Project for the Western Province, with a view to improve the overall performance of the chemical industry, by offering a very supportive financial grant for quality and productivity improvements in industry.

The IDB’s Technical Service Department (TSD) submitted a proposal in this regard in 2017, and took steps to carry out the project in 2018, first by calling for applications of the prospective industrialists keen in this sector via newspaper advertisements.

The TSD informed the prospective candidates applying for this project that the industry they apply for should not have been registered in any other Government institution to obtain similar assistance at the time of applying for this scheme.

They were also told that they could submit their proposals under this project with the following included: machinery and technology acquisition, packaging improvements (machinery/labelling), solutions to the environmental problems such as waste management, energy conservation etc. and measures to comply with local and international industry standards.

The application received were evaluated by the selection committee appointed by the IDB Chairman and the field visits were done to ascertain the eligibility. The selected industrialists were informed that they need to invest a minimum amount of Rs. 600,000.00 for improvement of their products and processes. The IDB would reimburse 50% of the total project cost up to a maximum of Rs. 300,000.00 (excluding consultancy and factory infrastructure modifications) upon the successful completion of the project.

The IDB took steps to provide the financial grant as told at the time of the selection, with the hope that the industrialists selected would utilise the grant to increase production capacity and efficiency, and to improve the quality and productivity of the industry, including environmental improvement initiatives.

The selected industries signed agreement with the IDB and eight industries, successfully completed their proposed projects in 2018. They are: Silver Star Industries; Nestchem Lanka Ltd..; Dhanushka Paints and Chemical Industries Ltd.; Grestone Chemical Ltd.; Bionutri International Ltd.; Latex Lanka International Ltd.; RYC Colour Ltd.; and Unique Multi Artistes. They received the financial grant from the IDB at the function held at the JAIC Hilton Colombo , to unveil the LOGO of the IDB, in view of the IDB 50th Anniversary due to be commemorated this year. Awarding of the financial assistance to the selected Industrialists took place at that ceremony.

Industry and Commerce, Resettlement of Protracted Displaced Persons and Co-operative Development Deputy Minister Buddhika Pathirana was the Chief Guest at the ceremony.

In his address at the IDB Logo launching and granting financial assistance to the selected industrialists of the Western Province, Deputy Minister Pathirana invited the industrialists to venture into new fields as one industry along was insufficient today to run a successful business.

Deputy Minister Pathirana drew the attention of the industrialists at the ceremony and encouraged them to start their environment-friendly industries at Paranthan, and stated the Government was ready to give them all assistance necessary.

“Get away from the tunnel-thinking and move on spread-out thinking. Be active partners without idling as onlooking outsiders,” he said.

If the industrialists show interest and venture forward with needed funds as investment to commence new industries, coupled with novel ideas, they could generate more job opportunities for graduates and for those after Advanced Level studies who have followed the science stream. There is great demand for those who studied Chemistry, in particular. Paranthan is an ideal place to commence industries, and if they can manufacture goods to meet the demand of the international market, they would be helping the country to earn more foreign exchange to the country, the Minister said.

IDB Director General P.L.U. Rathnamalala informed those present that the IDB was getting ready to celebrate the Golden Jubilee this year, and the invitation extended to the prospect industrialists and youth with novel ideas to enter the industry was very fitting and a good omen.

He paid a glowing tribute to late Minister Philip Gunawardene for his role in setting up the IDB, as a Member of the National Government Cabinet, during the tenure of then-Prime Minister Dudley Senanayake.

Speaking further IDB DG Rathnamalala said that the IDB was on its way to extend more of its services to uplift the lives of small and medium industries in the country. This will undoubtedly be a very remarkable and fitting way to commemorate the IDB Golden Jubilee this year.

The logo of the 50th anniversary launched was creation of IDB workers and staff with the blessing and approval of the Board of Directors.

Deputy Director Deepa Gamage made the presentation on the Small Scale Chemical Industry Development Pilot Project of the Western Province at the ceremony.


15th March 2019


Hilton Residences, Colombo