- Joint Cabinet proposal presented by PM and Bandula
- Project to be done with International Gene Technology Engineering and Bio-Tech Centre
- Bio-tech institute to produce 10 items including insulin and human growth hormones
- Committee including exports to be appointed to oversee implementation
Cabinet this week gave permission for the establishment of a bio-technology innovation park and bio-technology institute on 13.2 acres in Homagama.
Plans have been drawn up to set up a Sri Lanka bio-technology innovation park and Sri Lanka bio-technology institute in phases with the objective of promoting hi-tech exports and encouraging import substitute products, the Government Information Department said in a statement.
“The intention of this project is to facilitate a favourable environment required to act collectively for developing the ideas of bio-tech companies and technological researches up to commercial products,” the statement said.
The International Gene Technological Engineering and Biotechnology Centre, a UN affiliated body, has selected Sri Lanka as their regional research centre in the South Asian region for coordinating with the proposed Sri Lanka bio-technology institute.
Under this the establishment has given their consent for entrusting the technology for production of 10 biological items including insulin and human growth hormones (HGH) creating favourable grounds for Sri Lanka to expand its internal medicine production.
Accordingly, the Cabinet of Ministers approved the combined proposal submitted by Prime Minister Mahinda Rajapaksa as the Minister of Finance, Economic and Policy Development and Higher Education, Technology and Innovation Minister Bandula Gunawardena for the establishment of a bio-technological innovation park in a land of 13.2 acres in extent situated in Amarawatte, Pitipana, Homagama as well as the construction of the building ‘BiotechnoPlex’.
It also approved the appointment of a monitoring committee co-chaired by Treasury Secretary and Ministry of Higher Education, Technology and Innovation Secretary S.R. Attygala and a technical committee comprised of experts in the field and to allocate necessary provisions for the proposed project.