India to part-finance refrigerated warehouse in Sri Lanka

ECONOMYNEXT – A planned temperature controlled storage facility to be set up in central Sri Lanka, funded largely by an Indian grant, would help reduce volatility in supplies and prices of perishable farm produce.

The state information office said the cold storage facility in Dambulla, a key farming centre in the north-central region, which would also help reduce post-harvest losses, is estimated to cost Rs. 475 million.

The government of India, which has one of the largest refrigerated warehouse capacities worldwide, with 131 million cubic metres in cold stores, has agreed to provide Rs.300 million as a grant for the Dambulla unit.

A statement said the Cabinet of ministers this week approved a proposal for the facility by Prime Minister Ranil Wickramasinghe, in his capacity as the minister of National Policies and Economic Affairs.

It said the cold storage facility will help stabilise market prices of fruits and vegetables by ensuring proper storage and steady supply, benefiting both farmers and consumers alike.

The facility will help keep agri-produce for a long period and to allow constant release of produce to the market throughout the year.
(COLOMBO, 22 August, 2018)

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