Wednesday Jul 29, 2026
Wednesday Jul 29, 2026
Wednesday, 29 July 2026 00:24 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Monday approved the allocation of land to 23 investors across 13 regional industrial estates on 35-year lease agreements, paving the way for new manufacturing and industrial ventures with a combined investment of over Rs. 2.8 billion and the creation of 870 direct jobs.
The decision forms part of the Government’s regional industrial estate development program, implemented by the Industry and Entrepreneurship Development Ministry to promote balanced industrialisation and expand economic opportunities beyond the country’s main urban centres.
“The regional industrial estate development program focuses on identifying suitable land, developing essential infrastructure and allocating industrial plots to qualified investors to facilitate the establishment of new enterprises,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa announced the decision at the weekly post-Cabinet meeting media briefing yesterday.
He said the investment proposals were assessed under the regional investment initiative through a multi-stage evaluation process.
The Regional Industrial Service Committee, established under the Industrial Promotion Act No. 46 of 1990, together with the Project Evaluation Committee of the Industry and Entrepreneurship Development Ministry, recommended the allocation of land for the 23 projects after evaluating the proposals.
The proposal to this effect was submitted by Industry and Entrepreneurship Development Minister Sunil Handunneththi.
