Sri Lanka cabinet approves LKR 30 billion industrial city in Katunayake
ECONOMYNEXT – Sri Lanka’s cabinet of ministers has approved a proposal to establish an industrial city in Katunayake expected to generate Rs 30 billion in investment and some 11,500 job opportunities, the Government Information Department said.
Minister of Industries Wimal Weerawansa submitted the proposal claiming nearly 150 investors had requested his ministry to provide them with an opportunity to set up businesses in the western province. According to the statement, the minister had said there was a need for a new industrial park as all eight industrial parks in the province are currently operating at full capacity.
The proposed city will be set up using 100 acres of government land named Kaludiyawala Watta in the Katana Secretariat Davison to facilitate the commencement of industries such as rubber, plastics, pharmaceutical and allied products, electrical and electronic appliances, packaging, value-added agro products and recycling industries with a focus on apparel and allied products, the statement said. (Colombo/Jan26/2021)