AMSTERDAM, NETHERLANDS – 01/10/2025 – (SeaPRwire) – Sri Lanka is taking bold steps to confront one of its most urgent environmental crises: the mounting challenge of plastic and polythene waste. Against the backdrop of rising concerns about pollution and its far-reaching impacts on public health, ecosystems, and the country’s tourism economy, a new partnership between LOLC Advanced Technologies (LOLC AT) and Corsair Group International promises to deliver a large-scale, sustainable solution. This collaboration is set to transform Sri Lanka’s approach to plastic management, moving beyond traditional disposal methods and toward innovative circular economy practices that turn waste into valuable resources.
The scale of the problem is significant. Sri Lanka generates approximately 7,000 metric tons of solid waste every single day, which adds up to around 2.56 million metric tons annually. A considerable share of this waste is made up of polythene and plastics—materials that are notorious for their persistence in the environment and their harmful effects when left unmanaged. Much of this waste ends up in overflowing landfills, contaminates waterways, and ultimately flows into the oceans, where it poses threats to marine ecosystems and biodiversity. For a country that relies heavily on coastal resources, fisheries, and eco-tourism, the consequences of unchecked plastic pollution extend well beyond environmental degradation; they affect livelihoods and long-term economic stability.
LOLC AT, a fully owned subsidiary of the diversified LOLC Holdings PLC, has already demonstrated leadership in addressing this issue. In 2023, the company invested in and commissioned Sri Lanka’s first commercial-scale waste-to-fuel plant at Kerawalapitiya. By 2024, the plant had successfully completed its first full year of operations, converting non-recyclable plastics—materials that cannot easily be reused through conventional recycling—into an alternative fuel source. This pioneering effort provided a proof of concept that plastics, often treated as a terminal waste product, could instead serve as a resource with economic and environmental value.
The newly announced partnership with Corsair Group International, an Amsterdam-headquartered company with a rapidly expanding global footprint in plastic recycling, is set to elevate this initiative to a new level. Corsair specializes in advanced pyrolysis technologies, developed in collaboration with its network of technology partners. These proprietary processes convert end-of-life plastics into ISCC PLUS-certified Pyrolysis Oil, a premium-grade raw material that can be reintegrated into the petrochemical industry. Unlike approaches that simply burn plastics to generate energy, Corsair’s model keeps materials within the economic cycle, enabling the creation of new plastics and other products while avoiding further carbon emissions.
Through this collaboration, the Kerawalapitiya facility will undergo a major upgrade and expansion. The new plant will be designed to handle up to 12 million kilograms of plastic waste every year—a substantial increase in capacity compared to the existing operation. Once operational, the facility will not only absorb a larger share of Sri Lanka’s plastic waste stream but will also be able to process a broader range of plastic types. The output—high-quality pyrolysis oil—will be supplied to petrochemical companies, which can use it to produce new, recycled plastics that meet international standards of sustainability. In this way, the facility becomes a crucial link in the circular plastics economy, ensuring that what was once waste can be continually repurposed.
The economic implications are equally significant. By transforming discarded plastics into commercially valuable feedstock, the initiative creates new opportunities for investment, innovation, and employment. Green jobs will be generated across engineering, plant operations, logistics, and research. The project also supports Sri Lanka’s aspirations to position itself as a regional hub for sustainable technologies and environmental solutions. With global awareness of plastic pollution at an all-time high, the country’s progress in this area is likely to attract attention from neighboring nations seeking similar models.
Construction on the expanded facility is scheduled to commence in 2025, with completion expected within two years. Corsair Group will bring its technical expertise, proprietary processes, and international project experience to the effort, while LOLC AT will contribute its operational capacity and local insights. Together, the companies intend not only to deliver immediate waste management benefits but also to set the stage for a series of additional initiatives that will further strengthen Sri Lanka’s position in the sustainable economy.
In comments shared with the announcement, Mr. Danesh Abeyrathna, Director and CEO of LOLC Advanced Technologies, emphasized the transformative potential of the project:
“This partnership represents more than just a technical upgrade—it is a strategic commitment to reshaping how Sri Lanka handles plastic and polythene waste. By combining our operational expertise with Corsair’s innovative waste-to-fuel technologies, we are confident in our ability to deliver measurable environmental benefits while also advancing the country’s economic resilience. Our goal is to show that environmental responsibility can be directly tied to social and financial returns.”
Corsair Group’s CEO, Mr. Jussi Saloranta, echoed these sentiments, highlighting the importance of collaboration between local and global players:
“We are proud to partner with LOLC, one of Sri Lanka’s most respected and diversified conglomerates. The Kerawalapitiya facility is only the beginning; it is the first in a series of planned initiatives aimed at advancing plastic recycling and circular economy solutions across the region. Our technology has already proven its value in other markets, and we are eager to invest our resources and knowledge here in Sri Lanka. Together, we can turn the tide on plastic pollution and build a cleaner, greener future for generations to come.”
About LOLC Advanced Technologies
LOLC Advanced Technologies (Pvt) Ltd., a wholly owned subsidiary of LOLC Holdings PLC, serves as the Group’s innovation and new business development arm. The company focuses on projects that blend research with practical application, targeting sectors that offer both socio-economic value and financial sustainability. Its portfolio includes initiatives in advanced materials such as graphene, high-value spice extraction, and waste-to-value solutions designed to address critical environmental and economic challenges in Sri Lanka and beyond.
About Corsair Group International
Corsair Group International, headquartered in Amsterdam, is one of the fastest-growing global companies specializing in plastic waste recycling. The firm’s advanced pyrolysis technology converts end-of-life plastics—often destined for landfills or the ocean—into ISCC PLUS-certified Pyrolysis Oil. With projects and partnerships spanning Asia, Europe, and North America, Corsair emphasizes solutions that keep resources in circulation rather than removing them from the economy. By diverting thousands of tons of plastic from the environment and reintegrating them into the value chain, Corsair has established itself as a leader in scaling commercially viable circular economy solutions worldwide.
source https://newsroom.seaprwire.com/technologies/sri-lanka-moves-to-the-forefront-of-circular-economy-with-lolc-and-corsairs-advanced-waste-to-fuel-partnership/