Friday, March 05, 2021
Follow Us
New industrial estate for Rs. 30 b investment

Cabinet has given approval for State land to be used to set up a new industrial estate in Katana to facilitate 150 investors that are expected to invest Rs. 30 billion and create 11,500 jobs, an official said yesterday.

Cabinet Spokesman Keheliya Rambukwella, addressing the weekly Cabinet briefing yesterday said that a Cabinet paper presented by Industries Minister Wimal Weerawansa to set up an industrial estate using 100 acres of government land named Kaludiyawala Watta in the Katana Divisional Secretariat to facilitate investment had been approved.

“Nearly 150 investors have requested the Industry Ministry to provide them with an opportunity to set up businesses in the Western Province. The Ministry has confirmed that this could generate an investment of around Rs. 30 billion and 11,500 employment opportunities. There is a need for a new industrial estate as all the eight industrial estates in the Western Province are currently operating at full capacity,” he said.

Accordingly, the Cabinet of Ministers approved the proposal presented by Minister Weerawansa. Industries expected to set up shop in the new zone include 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.

(FT)