Shree
Renuka Sugars Limited India,
through its subsidiary Lanka
Sugar(Pvt)Limited will
invest $ 220 million on a
sugar refinery at Magampura
Mahinda Rajapaksa Port.
The project will
provide direct employment to
300 and indirect employment
to 1,500 individuals.
A meeting was
recently held between the
officials of Shree Renuka
Sugars Ltd and Investment
Promotions Minister Lakshman
Yapa Abeywardena at the
Ministry.
Investment
Promotion Minister Lakshman
Yapa Abeywardena said that
many investors were willing
to commence new factories at
the Magampura port and the
construction of a port in
Hambantota was an important
catalyst for major economic
development in Sri Lanka.
Meanwhile, Thatta
Cement Company will invest a
significant sum of money on
a cement manufacturing plant
that is to be established in
the near future.
The factory will
produce 100,000 metric tons
in the first few years and
plans to develop to one
million by the seventh year.
The company hopes
to send the products
manufactured in Sri Lanka to
Pakistan and will provide 30
to 40 job opportunities.
Project Minister
Rohitha Abeygunawardena
recently said eight
investors have signed
agreements with the Sri
Lanka Ports Authority (SLPA)
to commence new business
ventures at the Magampura
Mahinda Rajapaksa port.
These investors
have agreed to invest US $
01 billion at the port to
start new factories.
All arrangements
were in place to develop the
Magampura Port as one of the
best re-exporting ports in
the world.
(DN07022013)