Sri Lanka Royal Ceramics invests nearly a billion rupees in expansion
ECONOMYNEXT – Sri Lankan tile and sanitary ware maker Royal Ceramics Plc (RCL) said it will invest nearly a billion rupees to upgrade one of its factories to produce bigger tiles and expand capacity.
A stock exchange filing said the board of directors had decided to proceed with the replacement of a kiln at its Eheliyagoda plant, together with the press and associated machinery and building.
The upgrade will be done at an estimated project cost of Rs978 million and be completed by June 2017, the company said.
After being commissioned, the new equipment will increase the plant’s capacity and capability of producing large format, cost-effective tiles, it said.
(COLOMBO, Jan 16, 2016)