Sri Lankan coconut giant eyes Madang for joint venture processing plant

A leading Sri Lankan coconut-based food and beverage manufacturer has expressed strong interest in establishing a joint venture coconut processing plant in Madang Province, Papua New Guinea.

The management team of Jaindi Export Pvt Limited, a large-scale exporter operating under the global brand ‘econutrena’, met with Minister for International Trade and Investment Richard Maru earlier this week to discuss the proposal.

Jaindi Export currently operates two advanced processing facilities in Sri Lanka and exports a wide range of certified organic coconut products including coconut cream, milk, oil, sugar, butter, and whipping cream to clients in Europe, North America, Japan, Australia, and other developed markets. Their global clientele includes major supermarket chains, hotels, food companies, and cosmetic brands.

Minister Maru welcomed the company’s interest and emphasized the PNG Government’s commitment to supporting the project.

“Our Government together with the Madang Provincial Government are very keen to work in partnership with the Jaindi Export and Kokonas Indastri Koporesen [KIK] to develop the proposed processing plant in Madang that would have the capacity to process up to 100,000 coconuts per day to produce high-end coconut products,” he said.

Maru stressed the need to move away from semi-processing and raw exports, noting that value-added production would not only maximize returns but also create jobs and stimulate growth in the local coconut industry.

“We want to process our coconuts into final products to maximize our value, create more jobs, and encourage the industry to grow if our people can see a better value,” the Minister said.

“Jaindi Export’s already have big clients in Australia including Woolworths and it is cheaper to supply Australia from PNG rather than from Sri Lanka.”

The minister also underscored the importance of fair pricing for local farmers to ensure a sustainable supply chain. Products made at the facility would carry the ‘PNG Made’ label to promote national identity and branding in international markets.

Jaindi Export has been invited to submit a full investment proposal next week, detailing capacity, equity structure, financial viability, and operational plans.

“Equity will not be an issue,” Maru confirmed.

“I will also work very closely with the Madang Provincial Government to secure 10 hectares of land in Madang for this very important investment that will transform the coconut industry in PNG,” he said.

Minister Maru thanked KIK Managing Director Alan Aku for organizing the investor’s visit and facilitating discussions with key stakeholders.