Feasibility study by Nanotechnology Institute to produce urea locally

Thursday, 24 December 2020 00:12 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers has directed the Ceylon Institute of Nanotechnology to conduct a feasibility study on the possibility of producing urea fertiliser in the country.

The move comes following a proposal by the Ministry of Industry to the Cabinet to conduct a feasibility study on urea production due to foreign exchange loss incurred for importing the fertiliser. According to the Government, Sri Lanka has an annual fertiliser requirement of 340,000 MT.

The State-owned Paranthan Chemicals Ltd. is researching the possibility of producing the fertiliser, the Government said, adding that in 2019, Rs. 26 billion was spent to import urea fertiliser.