Govt. to allocate lands for 22 investors worth Rs. 24 b

Thursday, 11 February 2021 02:35 - - {{hitsCtrl.values.hits}}

In an effort to take factories to the provinces the Government will facilitate land allocations for investments worth over Rs. 24 billion in regional industrial zones.

Cabinet has approved a proposal submitted by the Industries Ministry to allocate land plots from eight industrial zones on a 35-year lease basis to 22 investors under the Regional Investment Zones (RIZ) Development Program implemented by the Ministry.

The Cabinet nod comes following recommendations by the project evaluation committee of the Ministries Regional Industrial Services Committees, the Cabinet Office said in a press release.

According to Cabinet Spokesperson Keheliya Rambukwella, the aim is to generate some 3,300 jobs which the new industries will bring.

“Investors are to invest Rs. 24,047.85 million and $ 3 million in these projects, while it has been estimated that 3,326 direct employment opportunities will also be generated from these projects,” Rambukwella added.