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Thursday September 29th, 2022

Sri Lanka INSEE unit cuts costs using China-run Hambantota Port

ECONOMYNEXT – INSEE Cement in Sri Lanka said it had inked a deal with China-run Hambantota International Port Group to handle raw material to its factory after one million tonnes of dry bulk cargo was brought through the port in 2021 allowing it to cut costs.

INSEE has a cement grinding plant in Galle.

Hambantota port had allowed INSEE to bring larger ships lowering costs.

“Due to the limitations we have experienced in our previous operations, we couldn’t bring bigger vessels with larger volumes,” Gustavo Navarro, Chief Executive Officer of INSEE Cement said in a statement.

“This has not only benefited our company but also the local economy in terms of dollar savings because it reduced freight costs we otherwise paid to foreign vessels.”

Navarro said the port came up with solutions to deliver the products on time.

“INSEE Cement was Hambantota International Port’s (HIP) first customer for dry bulk cargo and we greatly appreciate the trust they placed in us,” Johnson Liu, CEO of HIPG was quoted as saying in the statement.

“We have worked with them from 2018 and have been able to greatly increase our productivity in handling dry bulk volumes.”

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