Government okays another pharma manufacturing zone
ECONOMYNEXT- Sri Lanka has selected 24 investors to invest approximately LKR28.2bn for the proposed Pharmaceutical Manufacturing Zone in Anuradhapura which aims to manufacture high-quality pharmaceuticals at a lower price for the people in the country, Co-Cabinet Spokesman Keheliya Rambukwella said.
Accordingly, the land will be leased to the selected local investors for a period of 35 years with a released period for the first five years.
He said that the proposal presented by the Health Minister to implement the manufacturing of pharmaceuticals in the proposed pharmaceutical manufacturing zone, supplying and regulate as a strategic project under the state ministry was approved by the cabinet.
Rambukwella said that this project is expected to provide a third of the national demand for pharmaceuticals under the first phase.
Earlier this month the cabinet also decided to set up a Pharmaceutical Manufacturing Zone in Millewa, Horana with an initial investment of LKR8bn meanwhile another zone was set up in Hambantota last year. (Colombo/Mar24/2021)
Reported by Imesh Ranasinghe