This is the first time a private sector proposal to upgrade their design and development facilities has been accepted for financing by the Government,in the history of the Rubber Industry in Sri Lanka.
Hence it has been an occasion where all stakeholders considered this proposal worthy of acceptance. The role played by PRISL and SLAMERP providing funding for the initial Project Report preparation is another key factor to drive it forward.
The funding required for the equipment to the value of Rs. 50 Million has been granted from the Treasury and the equipment have already been purchased. A Memorandum of Understanding between the Rubber Research Institute and the Plastics and Rubber Institute of Sri Lanka has been prepared to manage the operations of the Centre. This Project will be managed as a Public-Private sector entity.
The operational expenses for the first year would be about Rs.10.5 million which has to be found by the Private sector. A partnership scheme has been proposed to the private sector Companies to become; Platinum, (Rs. 1Million) Gold (Rs.750, 000) Silver (Rs.500, 000) and Bronze (Rs.250, 000) partners to obtain the operational costs for the initial phase. They stand to gain substantial benefits for their investment over a period of one and half years.
Hence it is our earnest appeal to all leading industrialists in the Rubber and Plastics Sector to consider becoming worthy partners of this Project of national importance. If the Private Sector is not able to raise the required funds, this very valuable equipment will idle and become obsolete missing a golden opportunity afforded to the private sector. The funding from the private sector is required to recruit and train the engineers, programmers and the draughtsman till it becomes sustainable on its own.
This Project will also provide training to undergraduates in the Universities to create a bank of knowledge in the FEAS skills.