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Cabinet approves 200-acre Vavuniya land to Thai firm for $ 400 m sugar development project

Thursday, 29 June 2023 03:12 –      – 221

In a significant move towards promoting investment and boosting the sugar industry, the Cabinet of Ministers approved allocating a vast tract of land in the Vavuniya district to Thailand’s Sutech Sugar Industries Ltd.

Valued at $ 400 million, this landmark project aims to address a substantial portion of Sri Lanka’s sugar requirements by producing 20% or 120,000 metric tons of sugar.

The land, spanning 200 hectares and covered by a scrub jungle, will serve as the foundation for the ambitious Green Field Sugar Development Project. The project will be developed on a long-term lease basis.

Recognising the immense potential of the Green Field Sugar Development Project, the Cabinet of Ministers approved the proposal submitted by President Ranil Wickremesinghe in his capacity as the Investment Promotions Minister.

 

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