Sri Lankan Raigam Group plans to build a Kuchchiveli chemical plant to manufacture products such as caustic soda, soda ash and chlorine.
Raigam Group is also setting up a vacuum salt plant in Bata-Atha in Hambantota, according to sundaytimes.lk.
The company will raise Rs200m ($1.75m) from a public share offering in a bid to develop its Vanathavilluwa saltern, costing Rs90m ($789,300).
A further Rs30m will be spent completing the plant at Palavi Saltern and the salt refinery in Puttalam.
Raigam Group chairman and CEO Dr Ravi Liyanage said the company is also planning to acquire the import segment of the value-added salt market by producing adequate quantities to supply local demand.
"We are also planning to seek new emerging markets overseas and we already are in negotiation with a client in Japan," Liyanage said.
