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Monday May 10th, 2021
Economy

Cabinet approves Rs 365 million international gem & jewellery trade centre in Ratnapura

ECONOMYNEXT – Sri Lanka plans to build a Rs 365-million international gem and jewellery trade center in Ratnapura to enable sellers and buyers to engage under one roof, a cabinet statement said.

The cabinet of ministers has greenlit a proposal to use funds belonging to the National Gem & Jewellery Authority for the project.

According to the statement, the first phase of the project will see the construction of a five-storey building with a floor area of 1,500 square feet on a 22-perch extended plot of land in Demuwawatta, Ratnapura.

“The centre will provide independent quality testing services, laboratory services and banks and export services as in Bangkok and Hong Kong which are the leading sales centres for Gem and Jewellery sales in Asia,” it said.

As the second phase of the project, the statement said, it has been proposed to acquire the adjacent plot of land to the aforementioned plot of land and build a modern, 14-storey building.

The cabinet has also decided to award the contract of designing and constructing the proposed building in the first phase of the project to the Central Engineering Consultancy Bureau, it added. (Colombo/Dec16/2020)

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