Home / Agriculture/ Swedish, Indian investors to boost ‘Grama Shakthi’ agricultural program

Swedish, Indian investors to boost ‘Grama Shakthi’ agricultural program


Comments / {{hitsCtrl.values.hits}} Views / Monday, 9 April 2018 00:01


Foreign direct investment is presently being seen in Sri Lanka for a village level agricultural products program implemented under the ‘Grama Shakthi’ People’s Movement.

Accordingly, a group of Swedish and Indian investors are keen to provide assistance in establishing a cassava (manioc) flour plant and promoting cassava cultivation in Sri Lanka.  

This cultivation is expected to be promoted by focusing on the Polonnaruwa, Trincomalee, Batticaloa and Moneragala districts and under this program around 6,000 hectares of land is set to be cultivated. 

At this new factory the cassava purchased from the farmers will be turned into flour and is also expected to produce sugar.  

A large number of jobs will be created as a result of this investment and this process will help reduce the high expenditure for the import of sugar. 

Construction work on this new factory will commence this year using Swedish technology. 

 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation


Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc


The bald truth about fake news, etc.

Friday, 21 September 2018

In its most innocent forms, we may all enjoy a bit of ‘fake news’ and go to bed with a lighter heart and clean conscience. A meme on Facebook urging social media consumers to caution – “You can’t believe everything you read on the internet


Withholding Taxes – What, why, when?

Thursday, 20 September 2018

The tax regime in Sri Lanka historically imposes WHT on both domestic as well as cross border payments. WHT on domestic payments eases revenue collection (e.g.: PAYE) while WHT on cross border payments are adopted by most countries to ensure that the


Columnists More