The foundation stone was laid on Wednesday (21 Jan) at the Paranthan Chemical Industrial Zone to reconstruct the Paranthan Chemical Factory, which had remained closed since 1985 due to the conflict in the Northern Province.
The ceremony was held under the patronage of the Minister of Industry and Entrepreneurship Development, Sunil Handunneththi.
The factory is being reconstructed with an investment of Rs. 6,900 million and is scheduled to be completed within 30 months. Upon completion, it is expected to produce Poly Aluminum Chloride (PAC) and Hydrochloric Acid (HCL) to meet domestic market demand.
The foundation stone–laying ceremony was held with the participation of the Minister of Fisheries, Ramalingam Chandrasekaram; Secretary to the Ministry of Finance, Harshana Suriyapperuma; Chairman of C/S Paranthan Chemicals Company, Sadanamdam Nesarajan; along with several government officials and distinguished guests.
According to the Ministry of Industries, the Paranthan Chemical Factory is one of the country’s earliest industrial establishments, originally launched in 1954 in Paranthan, Kilinochchi District, in the Northern Province, as a government-owned chemical factory.
In 1957, under the State Industrial Corporations Act No. 49 of 1957, it was brought under the name Paranthan Chemicals Corporation. Prior to its closure in 1985, the factory utilized locally available raw materials to produce caustic soda and liquid chlorine as its main products, while hydrochloric acid, zinc chloride, and table salt were produced as by-products.
Subsequently, under the Conversion of Public Corporations or Government-Owned Business Undertakings into Public Companies Act No. 23 of 1987, Paranthan Chemicals was incorporated as a public limited liability company on 17 January 1991. (Newswire)