Lanka Milk Foods invests US$7mn more in Sri Lanka dairy farm

ECONOMYNEXT – Lanka Milk Foods said it was investing seven million US dollars more in its dairy farm at Ambewela to increase production for the Sri Lankan market.

The firm said in a stock exchange filing the Board of Investment had approved its plan to incorporate a subsidiary company for setting up the dairy farm at Ambewela for the local market.

The BOI has grant approval to enhance the envisaged investment of the project to 17 million US dollars (3,l03 million rupees) from 10 million US dollars, it said.
(COLOMBO, 17 October 2019)