Lanka ORIX Finance Company PLC

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Project Development

In 2007, LOLC expanded its operation to pursue two key objectives: source and partner with reputed, experienced international organizations and to participate in infrastructure and related projects in Sri Lanka and regional countries. Hence, a dedicated projects development company Lanka ORIX Project Development Co (LOPD) was established with the intention of pursuing key development projects.

One of the key projects under LOPD is the manufacture of precipitated silica using rice husk ash. LOPD acquired patent rights from US based AgriTec for the use of their technology in 17 countries, namely Sri Lanka, Thailand, China, Vietnam, Philippines, Cambodia, Laos, Indonesia, Myanmar, Bangladesh, India, Pakistan, Malaysia, Australia, Japan, South Korea and Singapore. Used in the diverse manufacture of tyres, rubber goods, cosmetics, toothpaste, chocolates, biscuits, computer chips, aircraft components and many other manufacturing uses, the scope for this material poses numerous opportunities for LOPD.

Subsequent to identifying Thailand as the most suitable location, given that the country has more than 18 rice de-husking plants, LOPD joined hands with a company in Surin, Thailand to obtain 20,000 tonnes of rice husk ash per annum, to manufacture precipitated Silica and allied products. After negotiations were completed for construction of the first production facility, the plant will near completion by end 2010 and commercial production will commence 3 months thereon. Six more production facilities will follow in Laos, Cambodia and Vietnam.

AgriSil Holdings Limited

AgriSil Holdings Ltd. ("AgriSil") is a joint venture of AgriTec Inc., a subsidiary of AgriTec Systems Inc. and Lanka ORIX Project Development Ltd. ("LOPD"). The company will produce precipitated silica, silica gels, activated carbon and other related products through the exploitation of AgriTec's technology and patents throughout the major rice growing countries of Southeast Asia and the Pacific-Rim. The two companies each hold a 50% stake and AgriSil Holdings is a BOI approved company with their regional operating head quarters in Sri Lanka for International Operations.

AgriSil, in co-operation with reputed Thai Companies has Proposed to Develop, Initially Six Precipitated Silica Manufacturing Plants in North East and Central Provinces of Thailand in stages using Rice Husk Ash ( RHA ). These projects include the design, construction and operations of integrated plants which utilize the rice-husk ash (RHA) generated by the electric plants and process it to liquid sodium silicate, precipitated silica, silica gel and activated carbon in various quantities utilizing AgriTec's technology. While biomass-fuelled plants and traditional precipitated silica plants operate around the world, this will be the first integrated plant to take advantage of AgriTec's technology.

AgriTec will grant the appropriate licenses for the use of the technology and patents, providing technical services for assisting contractors in commissioning plants and bringing them up to production stage, providing assistance in sourcing markets within the Territory, assisting contractors in sourcing machinery and equipment capable of manufacturing the products and providing assistance to contractors in the requisite technical training for plant operating personnel.

LOPD will assist in raising funding for the plants, obtaining relevant local approval and licenses for the plants, identifying suitable land for locations of the plants, providing integrated management services, assisting in sourcing markets and sales of the products and, where necessary, providing other incidental services from time to time.

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