Home / Knowledge / News / Textiles / Lanka Sakusala to be revived by selling mill heirlooms
Lanka Sakusala to be revived by selling mill heirlooms
06
Apr '09
Lanka SaluSala, a state owned textile mill which is now under the preview of the SEMA, an agency responsible for improving the management of government businesses and making them more profitable will be closed down and re-started as a new entity.

This was announced by the Textile Minister, Mahinda Rathnathilaka who said that, since there are many legal issues coming in the way of liquidation, it would be more appropriate to register it a fully state owned entity and revive it.

The mill which is working partly since a long time is ridden with debts amounting to Rs 600 million, but at the same time is holding prime properties in Colombo which will be disposed off to once again re-start the mill as a new entity.

Last week, President of Sri Lanka, Mr Mahinda Rajapaksa had directed relevant officials to take immediate measures to effect the payment of all arrears of salaries to the SaluSala staff before the Sinhala and Tamil New Year on April 14.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search