Cabinet green-lights lease agreement for Oluwil Fish Processing Unit

Friday, 6 October 2023 01:40 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers approved the leasing of the fish processing unit nestled within the Oluwil Ports Complex to TES Company Ltd., for 10 years.

The agreement is contingent upon the stipulated monthly rent, as per the recommendations of the Cabinet appointed negotiation committee.

The Cabinet has previously given approval to reactivate the unused fish processing plant in the OluwilFishing Port premises and provide facilities to the TES Company to run fish processing activities.

“As the lease agreement takes effect, stakeholders in the fisheries industry are poised to witness a new beginning, unlocking new opportunities and fortifying the sector’s contribution to the local economy,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting on Tuesday.

The partnership between the Government and TES Company is anticipated to infuse vitality into fish processing activities, fostering economic growth and prosperity in the region.