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.