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Monday, 19 November 2012 - 13:02
Ambilipitiya Paper Corporation faced with tough times
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Although it has been almost a year since the handover of the Ambilipitiya Paper Cooperation to an Australian Company under its restructuring programme, work at the plant is yet to commence.

An agreement was inked on the 15th of November last year to lease the Ambilipitiya paper cooperation to Perth Engineering in Australia based on a 30 year lease agreement.

Under the agreement the government had decided to restructure the paper cooperation at a cost of six million rupees, while the government had received four million rupees as an advance payment.

When inquired from Deputy Minister of State Resources and Enterprise Development Sarath Gunarathna he noted that work at the plant had not commenced owing to an internal issue.

However according to Deputy Minister Gunarathna the government's attention is being focussed on re-acquiring the Ambilipitiya paper corporation & re-leasing it to another firm.

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