BOI-approved saline production venture saves Rs. 1.5 b in foreign exchange spend

Thursday, 9 February 2023 00:50 - - {{hitsCtrl.values.hits}}

State Minister of Investment Promotion Dilum Amunugama assures support to boost exports

Board of Investment approved, Kelun Lifesciences Ltd., one of the largest pharmaceutical manufacturing facilities in Sri Lanka has saved over Rs. 1.5 billion by manufacturing saline locally.

This was revealed during an official visit to the Kandy Industrial Park by Investment Promotion State Minister Dilum Amunugama, BOI Director-General Renuka M. Weerakone and Executive Director (Zones) M.K.D. Lawrance.

The company fulfils 40% of the total demand for saline in the country at present. Kelun Lifesciences is an Indian investment that commenced operations in 2017 and has a total of 230 employees.

During the visit, the State Minister chaired a meeting with the participation of the investors of the Kandy Industrial Park, to discuss and resolve the issues faced by them. “It is evident and undeniable that local productions and exports have been largely hit by global and local recessions resulting in low production and exports. In this context, the Government is keen on taking pertinent measures to ensure the smooth operation of the local industries in the face of the global and local economic setbacks,” he underscored.

He added that the Investment Promotion Ministry is in the process of making short- and long-term strategies to address the contemporary issues confronted by the industry players to boost export production and continue operations.

The Kandy Industrial Park, a 114-acre land, houses 24 factories with over 10,400 worker population.

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