LTL’s Indian subsidiary clinches export award | Sunday Observer

LTL’s Indian subsidiary clinches export award

M/s Asiatic Electrical and Switchgear Ltd of India, a fully owned subsidiary of LTL Holdings Ltd, last week achieved recognition as an exporter, when Engineering Export Promotion Council of India (EEPC) crowned Asiatic as the best Electrical and Electronics exporter for the year 2017-18.

This award is significant for Asiatic since awards are primarily to encourage foreign investments in line with the newly initiated ‘Make in India’ campaign by the Government of India. EEPC is the premier trade and investment promotion organisation in India.

It is sponsored by the Ministry of Commerce and Industry, Government of India and caters to the Indian engineering sector.

As an advisory body, it actively contributes to the policies of the Government of India and acts as an interface between the engineering industry and the Government.

Asiatic makes a wide range of electrical accessories required by power utilities.

Asiatic has a large production facility in Rajasthan and a corporate head office in New Delhi.

The Company has been a medium voltage switchgear supplier since early seventies. Today, its major markets are in Middle East and Africa.

It is a consistent and reliable equipment supplier for many power utilities in UAE, Qatar, Kuwait, Kenya, Ethiopia and Oman.

LTL Holdings Ltd was set up more than 35 years ago to manufacture all the transformers required for our national grid.

It is majority owned by Ceylon Electricity Board.

LTL employs over 300 Sri Lankan engineers in Sri Lanka and in various locations around the world.

Over the years through multiple strategies of product and geographical diversification into related fields such as power generation (thermal, hydro and wind), transmission line and power plant construction and steel fabrication etc, LTL has turned itself to a unique Public Private Partnership.

LTL has declared dividends totaling over Rs. 13 billion to CEB against a mere Rs. 96m invested by CEB. Its business is increasingly on a global footing, a company spokesman said.

Currently LTL Group is constructing power plants with a total output of over 500MW outside Sri Lanka.

Managing Director of Asiatic, Arun Malla said Asiatic is supplying electrical distribution infrastructure to Qatar in a large scale as part of its preparations to FIFA-2022 of which company is very proud of.

CEO of LTL Holdings, U. D. Jayawardana said, “Acquisition of Asiatic filled a long existed gap in our product range. Today we are able to offer a complete power distribution solution to power utilities combining transformers produced in Sri Lanka and Switchgear produced in India. Recognition of Asiatic as the top exporter in Electrical and Electronic Segment by EEPC, India well justifies our decision to acquire this company in 2016.”