ERJ staff report (DS)
Mumbai, India -- Aditya Birla has declined to confirm official reports that it is planning to build a carbon black factory in Sri Lanka. Dr. Rakesh Jain, the company's global director for carbon black, said, "We are always exploring new opportunities that will help create shareholders' value and grow the business. As of the moment, it is premature to comment on our plans."
Jain was responding to press releases and statements from the Sri Lankan ministry of Enterprise Development which indicated that Aditya Birla has agreed to build a US$120 million carbon black factory in Sri Lanka's Koggala Export Promotion Zone. Sri Lanka's main daily newspaper, the Daily news; The Hindu, a prestigious Indian national paper, as well as national and international newswires carried the the story, quoting a signing ceremony held between company officials and Sri Lankan minister for trade development, Dr. Sarath Amunugama.
A formal statement from the Sri Lankan ministry said, "Global Trade Chief of the Birla Group Of Companies Rakesh Jen said they opted to launch the Plant in Sri Lanka as there is a suitable climate for investment. He said they did not expect any government relief. "
Despite all this evidence, Jain refused to confirm that the decision had been made to switch from Western India to Sri Lanka.
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Press release from Sri Lanka's Ministry of Enterprise Development
Aditya Birla Group plans massive investment in Koggala Daily News (Sri Lanka)
Birla to set up $120 mn carbon plant in LankaBusiness Standard (India)
Aditya Birla plans $ 120 mn investment in Sri Lanka Press Trust of India via The Hindu (India)