A Shanghai-based Chinese company has expressed its ambition to become one of the top competitors in Sri Lanka’s streetlight market, according to a report from The Island.

Sri Lanka’s booming economy has drawn Chinese LED manufacturer Shanghai Hanjing 0ptoelectric Technology (Hanjing) to invest in the country’s market.

Shanghai Hanjing 0ptoelectric Technology plans to initially invest US $15 million in the Sri Lanka market, and might invest more to expand their business there, said the company’s General Manger Cai Weimin.

The company has a comprehensive LED product portfolio, and offers more than 20 LED products for different applications, including major projects Port City in Colombo. Hanjing’s LED products claim to have a lifetime of 100,000 hours.

Hanjing Green Laka Energy Solutions was incorporated to time with Sri-Lanka’s economy, said Cai.

Their manufacturer Jaingsu Yangtze Electromechanical Science & Technology team comprise of Chinese and foreign experts in rare-earth, nano-materials, ceramic materials, semiconductor mateirals, optics, thermal, electricity, electromagenetics and mechanical design. According to the article, Yangtze Electromechanical Science & Technology has received a lot of awards and funding from the U.S.