340 m euro investment into organic durian export venture in Nawalapitiya

UK-registered but Malaysian-owned Hobbify China Ltd. is to invest 340 million euros, or Rs. 78 billion, to organically cultivate and export value added durians from 200 acres in Nawalapitiya.

The entry into Sri Lanka and commencement of the venture is via the acquisition of a company called ‘In The Nature Ltd.’ 

The latter envisages to establish a project to cultivate durian with the aim of meeting the high demand in global markets. The project will be at Hineford Estate Mapakanda, Nawalapitiya.

The project has been in the making for six years and has been finally cleared by relevant State agencies.  

A spokesman for ‘In the Nature’ said the proposed project was in conformity with the national policies on sustainable development and national environmental policy in the country and also aims to develop under-utilised pines plantation into a more profitable durian plantation. It is planned to grow 10,000 durian trees on the 200-acre site. ‘In The Nature,’ owned by businessman Duminda Perera, already has a lease of the 200-acre land for 35 years from Land Reclamation Corporation.

The biggest market for durians is Singapore where the project has secured orders already.