1 June 2021 10:09 am Views - 930
Billionaire businessman Dhammika Perera-controlled Royal Ceramic Lanka (RCL) PLC is gearing to enter into biscuit and chocolate production through its non-operational subsidiary Rocell Ceramics Limited, which was recently renamed as Biscuits and Chocolate Company Limited.
According to a top RCL official, the group is yet to reach a concrete decision on this venture and it is still in the exploration phase.
However, Rocell Ceramics Limited, a fully-owned subsidiary of RCL, has been renamed as Biscuits and Chocolate Company Limited, as the initial step for this potential venture.
Biscuits and Chocolate Company Limited, which is a non-quoted and non-operational entity of RCL, owns over 33-acre land in Homgama, which is known as In Kiriwattuduwa Estate.
The company in 2019 resecured the rights of the land, after averting the acquisition attempt by the Lands Ministry, subsequent to entering into an MoU with the Urban Development Authority (UDA). The land was valued at around Rs.400 million, as per the available information.
According to sources, the company is considering setting up a chocolate and biscuit manufacturing plant, with a cocoa plantation, targeting both local and export markets.
The company may also look to explore the possibility of partnering with some of the leading global industry brands.