Sunday Dec 22, 2024
Sunday Dec 22, 2024
Tuesday, 3 November 2020 00:46 - - {{hitsCtrl.values.hits}}
A land currently belonging to the Urban Development Authority will be used for the construction of state-of-the-art pharmaceutical factory with an investment of Rs. 8 billion.
The memorandum of understanding to provide a 65-acre land at Meelawa Kalutara for this project was signed recently with the patronage of State Minister of Urban Development, Coast Conservation, Waste Disposal and Public sanitation Dr. Nalaka Godahewa and State Minister of Pharmaceuticals, Supplies and Regulation Prof. Channa Jayasumana.
The Ministry said the Vistas of Prosperity and Splendour policy statement of President Gotabhaya Rajapaksa calls for encouraging local manufacturing in every sphere, and this endeavour by two ministries is to contribute to realising this vision.
The project aims to manufacture five types of medicinal drugs and capsules and is expected to be completed in three years. The Treasury will be investing local funds for the project, which will save an estimated Rs. 20 billion worth of foreign currency annually. Expensive orthopaedic surgical equipment and optical lenses are also expected to be manufactured at the Meelawa manufacturing facility.
Speaking at the occasion, State Minister Dr. Nalaka Godahewa said: “The key challenges faced by both local and foreign Investors so far have been land acquisition and getting necessary Government approvals. The Urban Development Authority has a policy to resolve investor problems in a rapid manner, and all actions with regard to this project were taken based on that spirit. We will go all out to help investors.”
Secretary to the Ministry of Urban Development, Coast Conservation, Waste Disposal and Public Sanitation Sirinimal Perera and several other senior officials of both ministries participated in this event.
