Sri Lanka's Four Sugar Industry Plants to be developed

November 22, 2024

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Development - Provincial

Sri Lanka's Four Sugar Industry Plants to be developed

August 01, 2014

The Ministry of Sugar Industry Development has taken steps to develop Kantale, Hingurana, Sevanagala and Pelwatta Sugar Industry plants with the view to increasing local production up to 40 percent of the annual sugar requirement of the country by 2020.

Accordingly 27,567 hectares of land belonging to Kantale, Hingurana, Sevanagala and Peiwatta Sugar Industries will be leased out for a period of 99 years to Lanka Sugar Co. (Pvt.) Ltd. which is a 100% Government owned company, to increase its equity capital enabling it to obtain the required financial facilities for the development of the above four Industries;

Kantale Sugar Industry will be developed and modernized with the assistance of the Czech Republic; and blocks of land will be allocated to farmers for sugarcane cultivation by entering into forward contracts with the said farmers for the purchase of sugarcane; priority will be given to the farmers who are already engaged in sugarcane cultivation and farmers who are residents of the Districts where the relevant lands are situated. (ST/KH)